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.
Fnac, a French multimedia retail chain, has announced it will be restructuring its activities in Belgium. In total the company has indicated its intention to dismiss 57 employees, around 12% of the workforce. The company operates 11 stores in Belgium, has indicated that it intends to close none but will reduce the size of its stores in Bruges and Brussels. The company management states the measures are necessary due to the current economic difficulties the retail sector is facing. It has recorded losses in each of the last two years on reduced turnover as customers increasingly purchase music and electronics products online.
Eurofound (2019), FNAC, Internal restructuring in Belgium, factsheet number 97190, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97190.