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 Household Equipment In Specialised Stores 47.51 - Retail Sale Of Textiles In Specialised Stores
680 jobs Number of planned job losses
Announcement Date
27 February 2024
Employment effect (start)
27 February 2024
Foreseen end date
Description
Pepco Austria GmbH, the Austrian company of the Polish Pepco group, has filed for insolvency. In total 680 employees in Austria are affected, as the company discontinues business activities in Austria completely.
The branches will remain open until further notice. The company cites economic conditions as relevant reasons for the insolvency, landlords see self-inflicted management errors and assume that the business could have been saved. The food retailers Rewe and Lidl had already expressed interest in the employees in advance. The company says it is providing employees with "the best possible support during this challenging time".
Pepco is a Polish discounter for textiles, household goods and toys, operating 73 branches in various Austrian federal states. The company's main place of residence is in Poznań. Pepco has 3,600 shops and 31,000 employees in 19 countries across Europe and is planning further expansion.
Eurofound (2024), Pepco Austria, Bankruptcy in Austria, factsheet number 200852, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200852.
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