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.
There are to be 490 job losses at Irish stores owned by the UK retailer Arcadia whose brands include Topshop, Evans and Miss Selfridge.
Four of Arcadia’s Irish Companies have been in provisional liquidation since November. This follows the UK parent company being place into administration. It was hoped that a buyer for the stores would be found but this has not materialised. In late January, the Mandate trade union confirmed the redundancy of 490 staff following a meeting between its officials and the liquidator, Deloitte.
The Irish workers will receive statutory redundancy, which is set at two weeks’ pay per year of service (subject to a maximum earnings limit of €600 per week), plus one extra week’s pay.
Eurofound (2021), Arcadia, Bankruptcy in Ireland, factsheet number 103374, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/103374.
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