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.
Clothing retail company Cubus received a court authorisation to the liquidation through bankruptcy proceedings. The decision means that the company closes its 17 stores across the country, resulting in the dismissal of 146 employees by the end of October 2019. The company justifies the liquidation with poor levels of profitability for its activities in Poland.
The company is part of clothing group Varner, which owns 1,100 stores in Norway, Sweden, Finland, Germany and Latvia.
Eurofound (2019), Cubus, Bankruptcy in Poland, factsheet number 98684, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98684.