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.
International Bike Group (IBG), a Dutch retail company specialised in bicycles and bicycle equipment is undergoing a reorganisation. The company closes its head office, warehouse and 8 stores in the Netherlands and Belgium, which results in 150 of its 220 employees to lose their jobs. This includes 85 employees with a permanent contract and 65 employees who had a temporary contract.
The current reorganisation is the conclusion of an internal restructuring that was started last year and that has already significantly reduced the number of employees. The restructuring has been started because the company had been reporting significant losses in recent years. The reorganisation will split the company into three separate entities, focusing on corporate bicycle leasing, manufacturing of e-bikes and retail through the remaining bicycle stores.
Eurofound (2020), International Bike Group, Internal restructuring in Netherlands, factsheet number 100377, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100377.