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.
Swedish home electronics chain ONOFF filed for bankruptcy and gave notice to all employees on July 11 2011.
OnOff was founded in 1982, and today the company has 67 stores and over 900 employees all over in Sweden. The home electronics industry is characterised by stiff competition, price pressure and low profits, and the company has struggled for a long period of time. In 2009, the company had a turnover of 3 billion (approximately 310 million €) SEK and made a 44 SEK million loss.
Eurofound (2011), OnOff, Bankruptcy in Sweden, factsheet number 72192, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72192.