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.
Blokker, a Dutch retail chain specialised in household articles, has announced the closure of 69 of its 190 stores across Belgium leading to the dismissal of 302 employees. The motivation for the closure of the stores, according to management, is a decline in turnover by 20% over the last five years including operating losses in 2015. Trade unions have reacted angrily to the announcement and indicate that they will try to save as many jobs as possible by applying the Renault procedure. In addition to that they demand realistic future plans for the entire chain. Federal Minister of Work Kris Peeters has described the situation as dramatic and has discussed the matter with the company management.
Eurofound (2017), Blokker, Closure in Belgium, factsheet number 90240, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/90240.