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.
Colruyt a Belgian multinational retail chain has announced it will take over 57 of the stores of competing chain Match & Smatch (part of the Louis Delhaize Group). However, a consequence of this takeover is that 690 employees at Match & Smatch are at risk of losing their jobs.
The company management has announced that because of a lack of alternative solutions, they intend to initiate a collective dismissal procedure for employees in that situation.
The national competition authority still has to approve the merger for Colruyt in view of maintaining fair competition within the sector.
Updated 05/01/2024
Of the 27 Match & Smatch shops that have not been sold to Colruyt, 7 other stores will be taken over by a different retailer, while negotiations are still ongoing for the Match store in Beaumont.
The 19 remaining shops will close between mid-January and March. The 163 employees working in these shops and in the logistic services will lose their job but will benefit from the social plan signed on the 1st of December.
In June 2024 the company has applied for the European Globalisation Adjustment Fund for Displaced Workers (EGF). The application has been successful and €2.7 million have been granted by the EGF to support the workers.
Eurofound (2023), Match/Smatch, Merger/Acquisition in Belgium, factsheet number 200355, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/200355.
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