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 department store Enklere Liv has announced that 60 jobs will be lost due to the closure of 25 out of its 65 stores. The company has not revealed which stores will be affected, but local news in Kongsberg, Førde, Mandal and Orkanger have reported that the stores in these places are closing down.
The closure is the result of poor economic results in 2018, which led the company to bankruptcy before Jotunfjell Partners bought it in the autumn of 2018. The company has, over a longer period of time, been through a process of restructuring with reductions in administrative costs and a closure of operations abroad. The company has also tried to develop new concepts with focus on e-commerce, according to the CEO.
Eurofound (2019), Enklere Liv, Closure in Norway, factsheet number 96317, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96317.
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