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.
Sport Voswinkel, a long standing German sporting goods store chain, filed for insolvency in April 2019. In total, 275 jobs are affected, just over a fifth of the total workforce. Measures to recover the company's situation include the closing and sale of 21 of its 72 stores by the end of October. In addition, the goods distribution centers in Bochum and Dortmund will be downsized. The company availed of assets protection over the past three months as in a regular insolvency proceedings and the stores' closures are part of the recovery plan.
Sport Voswinkel could not weather e-commerce competition; the company is a member and a subsidiary of Intersport, a company jointly held by individual sporting goods companies with a store chain and an online store. Sport Voswinkel was founded in 1904 in Bochum and is one of the largest sports chains in Germany.
Eurofound (2019), Sport Voswinkel, Closure in Germany, factsheet number 98264, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98264.