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.
Ovocný Světozor, the Czech confectionery chain, dismissed between 30 and 50 agency workers, and 3 employees in their probation period, out of about 307 staff due to the COVID-19 crisis.
The internal restructuring was originated by the loss made by the company as a consequence of the measures to contain the outbreak, corresponding to a daily amount of CZK 450,000 (about €17,000). During the COVID-19 crisis some of its shops were closed or operating in a restricted mode, while currently only 9 of its 13 stores are working. In this period, the company was supported by a subsidised loan, guaranteed at 80% by the State, of CZK 15 million (about € 550,000).
Ovocný Světozor is a confectionery operative in Prague from 1992. From one establishment it has expanded, in more than twenty years of activity, to the current 13 confectioneries with their own production, bakery and ice cream factory.
Eurofound (2020), Ovocný Světozor, Internal restructuring in Czechia, factsheet number 100608, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/100608.
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