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.
German fashion retailer AWG has announced that it will be closing 27 branches, resulting in the loss of 194 jobs. In January 2019, the company filed a petition for insolvency. The job reduction is part of a plan to restructure the company and make it profitable again.
AWG has yet to announce a timeframe for the job reduction. Furthermore AWG confirmed that cuts will be made as socially acceptable as possible, but compulsory redundancies cannot be excluded.
AWG has 290 branches in Germany employing 2,900 people.Â
Eurofound (2019), AWG, Closure in Germany, factsheet number 97401, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97401.