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.
The Swiss fashion chain Charles Vögele, which was declared insolvent in July 2018, will be taken over by GA Europe and announced to close 25 to 30 stores, affecting up to 200 employees.
The company belongs to Sempione Fashion group, which went bancrupt in June 2018, thereby also impacting its subsidaries. Part of the restructuring plan to deal with €25 million of debt is the closure of several stores all over Austria, starting with 15 immediate closures and further closures of 16 stores by the end of September. Altogether 31 out of 102 stores will be closed.
As of September 2018, Vögele employs 700 people.
Eurofound (2018), Charles Vögele, Closure in Austria, factsheet number 95539, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/95539.