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 German sporting goods retailer SportScheck has announced the closure of its shops in Munich, Aachen, Augsburg, Bremen and Unterhaching, resulting in 200 job cuts.
SportScheck belongs to Signa-Holding, which had to file for insolvency in November. As a result, SportScheck also had to file for insolvency. The closures of the five shops and the associated redundancies were justified by the fact that the branches were making losses.
Dominik Datz from the trade union Verdi confirms the closures and the associated job cuts. The company wants to have finalised the redundancies by the end of March, says the trade union secretary. They want to do everything they can to gain time and influence the decision, says the union representative.
SportScheck was founded in Munich in 1946 and was taken over by the German retail and services company Otto Group in 1991. The Signa-Holding company took over SportScheck in 2019. The company is now being taken over by the Italian family business Cisalfa Sport. Cisalfa intends to continue the SportScheck brand as a whole.
Eurofound (2024), Sportscheck, Bankruptcy in Germany, factsheet number 201022, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/201022.
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