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 and 19 stores in Germany by November 2020, considering their profitability insufficient. Nine Castorama stores and two Brico Dépôt stores are covered by this plan in France. In Germany, the group will close 19 Screwfix stores with the loss of 250 jobs. 'These stores have experienced a steady decline in customer traffic, despite revitalisation initiatives, and their projections remain negative,' Kingfisher said in a release. In France, the 11 closures concern 789 employees, who will be offered a similar position in other locations. However, employees who refuse transfers may be dismissed.
Eurofound (2019), Kingfisher, Closure in European Union, factsheet number 97420, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97420.