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.
Women's ready-to-wear brand Naf Naf, founded in 1973, has been placed in receivership and has announced a restructuring plan. The plan includes the closure of 17 shops in France and a reorganisation of its head office, which will be relocated from Asnière (Haut-de-Seine) to Bobigny (Saine-Saint-Denis). This decision puts 87 retail jobs nationwide as well as 30 positions at the head office at risk, resulting in a total of 117 potential job losses.
The company is in debt due to overdue rent payments experienced during Covid-19 crisis.
Naf Naf's head office is scheduled to be relocated in mid-November and a job protection plan has been put in place for those employees who are not willing to relocate. There is concern that the number of 30 jobs at risk at head office might increase.
Eurofound (2023), Naf Naf, Internal restructuring in France, factsheet number 200418, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200418.