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 British DIY store group Kingfisher has announced the closure of 11 stores in France by November 2020, considering their profitability insufficient. Nine Castorama stores and two Brico Dépôt stores are covered by this plan in France (several store closures are also announced in Europe). 'These stores have experienced a steady decline in customer traffic, despite revitalisation initiatives, and their projections remain negative,' Kingfisher said in a release. In total, these 11 closures concern 789 employees, who will be offered a similar position within these two companies in France. However, employees who refuse transfers may be dismissed. Trade union FO at Castorama opposes this decision saying that workers cannot be forced to move at will. The Castorama stores concerned by the closures are located in Lille, Paris and the Paris region (Seine-et-Marne, Val-d'Oise, Essonne), as well as in Darnetal (Seine-Maritime) and Angers (Maine-et-Loire).
The British group Kingfisher owns 224 stores employing more than 18,000 employees in France, where the DIY market is in decline. Recently, a reorganisation was recorded in 2018 with about 400 job cuts and 100 recruitements. A previous recruitment announcement was made in 2011 (130 job creations).
Eurofound (2019), Castorama France, Closure in France, factsheet number 97419, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97419.