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
280 jobs Number of planned job losses
Announcement Date
3 October 2023
Employment effect (start)
3 October 2023
Foreseen end date
31 August 2024
Description
As announced on 3 October 2023, the German retail chain Onygo will cease operations by 31 August 2024, making 280 employees in various locations in Germany redundant.
A total of 28 shops with 280 employees are affected by the closure of Onygo, which is part of the German retail group Deichmann SE. According to Deichmann, the reason behind the closure is that the business model to focus on young female fashion customers is not profitable in the long-term as the market is dominated by large international fashion brands. Deichmann intends to find as socially acceptable solutions as possible.
Eurofound (2023), Onygo, Closure in Germany, factsheet number 200409, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200409.
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