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.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Household Equipment In Specialised Stores 47.51 - Retail sale of textiles in specialised stores
109 jobs Number of planned job losses
Announcement Date
2 June 2020
Employment effect (start)
8 June 2020
Foreseen end date
31 July 2020
Description
The Verywear clothing sales group, which owns the Devianne and Julie & Co brands, announced its placement in receivership and a reorganisation with 109 job cuts. Verywear was unable to withstand the containment difficulties linked to the COVID-19 crisis on top of existing challenges. The group is going to abandon the Julie & Co brand and discontinue six of its own brands. Jobs should be cut across the entire group, including around 20 positions at the head office in Wasquehal, near Roubaix (Nord).
The group, more than 100 years old, employed 683 people and had a turnover of €107 million.
Eurofound (2020), Groupe VeryWear, Internal restructuring in France, factsheet number 101080, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101080.
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