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 administrators of UK-based fashion retailer Bonmarché have announced that 31 shops are earmarked to be closed in December, making 240 jobs redundant. The remaining 285 shops will continue to trade, however, the future of these shops is subject to negotiation between the new owner and landlords.
The administrators said: ’We deeply regret that, as part of the administration process, 30 stores will close and staff may be made redundant. We will be working with the Redundancy Payments Office to support the affected employees.’
Bonmarché was founded in 1982 and at its peak it had 380 shops and employed over 4000 people. It entered into administration in October 2019, making 25 management and head office roles immediately redundant.
Eurofound (2019), Bonmarche, Closure in United Kingdom, factsheet number 99502, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99502.