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.
Deltic Group, the British night club operator has announced that it had started redundancy consultations with its staff, leading to a minimum of 400 job cuts across the UK. The job cuts are proposed to save costs in the wake of the COVID-19 pandemic as the Coronavirus job Retention Scheme ends in October.
Night clubs in the UK have been closed since March. Many venues were in a precarious financial position before the COVID-19 crisis, and the pandemic has exacerbated their difficulties. The Night Time Industries Association warned that without government support the majority of UK clubs will go bankrupt by the end of the year.
Deltic Group owns 54 clubs in the UK, branded as Pryzm, Atik and Eden chains and employs 3,000 people.
Eurofound (2020), Deltic Group, Internal restructuring in United Kingdom, factsheet number 102007, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102007.