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.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Household Equipment In Specialised Stores 47.51 - Retail sale of textiles in specialised stores
466 jobs Number of planned job losses
Announcement Date
17 July 2018
Employment effect (start)
1 October 2018
Foreseen end date
1 January 2021
Description
The Mulliez family group, which owns the Jules, Brice and Bizzbee menswear brands, announced it will close 88 stores in France and cut 466 jobs by 2021 to cope with a 10% drop in sales. The Brice warehouse located in Le Mans (Sarthe) is due to close in December 2019, which will lead to 40 job cuts. The group plans "a merger of the companies Jules, Brice, Happychic Services, Happychic production and Happychic store" by 30 June 2019. It will then deploy "a single brand on the entire new network ". The group had already announced, in February 2018, the closure of 13 stores of Jules, Brice and Bizzbee brands by the end of 2018.
Happychic has 740 stores in 17 countries, a turnover of €720 million and 4000 employees, including 2600 employees in France.
Sources
Citation
Eurofound (2018), Happychic, Internal restructuring in France, factsheet number 94662, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94662.
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