Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
East Lifestyle Ltd, the UK-based business behind women’s fashion brand East, ceased trading in May 2018. The company went into administration in January, and 27 employees were immediately made redundant by the administrators. The majority of the company’s 314 staff remained employed until 4th May when all 34 shops and 15 concessions in department stores across the UK closed.
The company was launched in 1994 and first fell into administration in 2015. However, it was then saved by the Indian retail company Fabindia, which aimed to distribute goods made by craft workers in India.
East Lifestyle Ltd was one of several fashion brands in the UK that are facing difficulties. Jaeger went into liquidation in 2017 and a number of major retailers, from Marks and Spencer to New Look, are currently undergoing major restructuring to deal with financial pressure.
Eurofound (2018), East Lifestyle Limited, Bankruptcy in United Kingdom, factsheet number 94251, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94251.