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.
Major UK supermarket Morrisons has announced the closure of 11 further stores as it continues to struggle in the marketplace. The closures will affect around 900 jobs. The retailer had announced earlier in the week the sell-off of 140 convenience stores to a team led by retailer Mike Greene. The sale of the local stores is understood not to affect the jobs of the 2,300 people currently employed. The announcements by Morrisons continue a series of restructuring measures by the company as it faces increased competition from discount retailers. It is not yet known when the stores will close. At the time the closure of the 11 stores was announced, the locations were not disclosed to allow the company to inform affected workers.
Subsequently the list of affected stores was published: West Bromwich, Salford, Burnham-on-Sea, Castletown, Clevedon, Little Hulton, Northallerton, Oldbury, Shildon, Streatham and Tyldesley.
Eurofound (2015), Morrisons, Internal restructuring in United Kingdom, factsheet number 84770, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/84770.