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 publishing group France Loisirs was placed in liquidation with continuation of activity in October and has now found a buyer, the company Financière Trésor du Patrimoine. As a result, 599 jobs will be cut out of a total of 737 employees. Only 14 shops across France will be kept open and 108 will be closed. From January to October 2021, the company accumulated a deficit of €14 million.
The social and economic committee of the book club considers the offer disappointing and strongly criticizes the sharp cut of employees. The employee representatives nevertheless supported the offer because it was the least negative compared to the others.
A previous announcement is recorded on the ERM database, with the cut of 450 positions in 2018.
Eurofound (2021), France Loisirs, Merger/Acquisition in France, factsheet number 106038, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/106038.