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 toys retailer Ludendo has announced in January a reorganisation plan with the closure of about 50 shops in France, including 41 exclusive 'La Grande Recré' brand stores which could affect between 100 and 200 positions, including 20 at its headquarters. If 100 employees can be redeployed in other shops or within the group, 100 will be dismissed. Otherwise, if employees refused redeployment offers, they could also be dismissed, which would lead to an increase in the number of job cuts. The first shops were closed just after the announcement. An employment savings plan has been presented to employee representatives. The group Ludendo, which employs 1,800 employees in France in 300 shops, want to increase its competitiveness, to invest in digital tools, to implement new shops through franchise and to close the less profitable shops. The group expects to reach 15% of the toys market in France by 2020 ahead of the US retailer Toys’R US (compared to 11% in 2015). Ludendo's turnover was approximately €600 million in 2015.
Eurofound (2016), Ludendo, Closure in France, factsheet number 86300, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/86300.