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 Commercial Court of Lyon has announced the liquidation of the independent newspaper publisher Comareg and its printer subsidiary Hebdo Print, with 1650 job cuts. The 1150 employees of Comared and the 500 of Hebdoprint - including 150 in Tinqueux (Marne), 80 in Lomme (Nord) ans 65 in Iffendic (Ille-et-Vilaine) - will be dismissed in the coming 15 days.
Since 2008, Comareg had to make face to the internet competitors such as "Leboncoin.fr" or "seloger.com" and started to reduce its workforce from 3000 by the end of 2007 to 2500 in 2010, and finally to 1650 after a social plan launched in 2011. The group failed to maintain its revenues. The turnover dropped to 227 million Euros last year and estimated 150 million this year, despite the recovery plan in place in the spring.
This case is reported to be one of the largest social plans and collective redundancies in France this year.
Eurofound (2011), Comareg, Bankruptcy in France, factsheet number 72672, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72672.
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