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 American group clothes retailer Gap has announced eight store closures of approximately 30 units each in France with approximately 250 job cuts. This reorganisation is part of a global closure plan announced in February 2019 envisaging 230 stores closures around the world. The units that are closing are all located in Ile-de-France, notably in Paris. The employment safeguard plan, which covers 250 positions, was signed in August between management and employee representatives and was the subject of lengthy negotiations. Gap expects to restore its competitiveness. The group is facing sharp competition from low cost brands and on-line retailers.
Eurofound (2019), Gap France, Closure in France, factsheet number 98781, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98781.