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 In Non-Specialised Stores 47.19 - Other Retail Sale In Non-Specialised Stores
1,300 jobs Number of planned job losses
Announcement Date
26 September 2023
Employment effect (start)
26 September 2023
Foreseen end date
31 December 2023
Description
Big Bazar, a retail company with its headquarters in Diemen, the Netherlands, has filed for bankruptcy. As a result, all 1300 employees will lose their job, reportedly by direct dismissal.
The owner attributes the company's financial problems to a combination of rising costs of shop rent, staff and energy. At the same time, sales declined as consumers spent less due to high inflation. The Employee Insurance Agency UWV will take over the salaries of all employees for a limited period of time.
Big Bazar had almost 100 shops in the Netherlands and Belgium and was an important component of the Dutch retail market.
Sources
26 September 2023: Het Financieele Dagblad (fd.nl)
Eurofound (2023), Big Bazar, Bankruptcy in Netherlands, factsheet number 200331, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200331.
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