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.
Department store Hudson's Bay is closing all its 15 stores in the Netherlands by the end of 2019. As a result all 1,424 employees will be dismissed.. It was already known that the Dutch Hudson's Bay stores were not doing well financially. Last year Hudson's Bay Company sold its European branch, but the buyer (Signa) was not interested in the Dutch stores. A Dutch judge determined that after closure of the stores, Hudson’s Bay Company still needs to pay the rent (€600 million) for the buildings according to the long-term rental contracts that have been signed.
Eurofound (2019), Hudson's Bay, Closure in Netherlands, factsheet number 98495, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98495.