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 Norwegian retail company PM - Personlig Mote announced in October 2018 that 270 jobs will be lost due to its closure. The closure is the result of a bankruptcy due to tough market conditions in the retail sector. The company claims to have attempted finding a new investor, but did not succeed. The 51 stores in Norway will close down as soon as the clothes are sold out, and the job losses will happen then. This is most likely in the end of November, according to the company.
The company has operated in Norway for 30 years. The retail sector in general continue to face tough market competition due to online sale and foreign competition.
Eurofound (2018), PM Retail, Bankruptcy in Norway, factsheet number 95716, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/95716.