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 Goods In Specialised Stores 47.71 - Retail sale of clothing in specialised stores
285 jobs Number of planned job losses
Announcement Date
3 March 2021
Employment effect (start)
15 May 2021
Foreseen end date
31 December 2021
Description
The Fast retail group, which owns the clothing brands, 'Comptoir des Cotonniers' and 'Princesse Tam-Tam', has announced a reorganisation with the closure of 24 Comptoir des Cotonniers shops, which should lead to 217 job cuts.
The other brand 'Princesse Tam Tam' would also be impacted with 7 shop closures and 68 job cuts. In addition, 50 'corners', that is sales areas in department stores, will be closed, including all points of sale located in the Printemps and Galeries Lafayette department stores.
The Comptoir des Cotonniers and Princesse Tam Tam brands have been experiencing difficulties for several years and despite the efforts already made, the situation has continued to worsen' says the management in its press release. 'Both are very strongly impacted by the crisis in the clothing market and have been strongly affected by the repeated social and societal upheavals of recent years'.
Sources
Citation
Eurofound (2021), Fast Retailing, Internal restructuring in France, factsheet number 103736, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/103736.
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