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.
Professional Services Market Research And Advertising Services Advertising And Market Research 73.11 - Advertising Agencies
223 jobs Number of planned job losses
Announcement Date
5 December 2023
Employment effect (start)
30 January 2024
Foreseen end date
29 February 2024
Description
Direct, which manages the distribution of more than a hundred million leaflets a year, was placed in compulsory liquidation on 20 December 2023, with the obligation to close its doors on 30 January 2024, resulting in the loss of 223 jobs. The closure may be attributed to a number of factors: the health crisis in 2020, which significantly slowed down economic activity; environmental standards, which are forcing supermarket chains to do away with all paper advertising leaflets; and the rising price of paper. For some employees, distribution was a salary in its own right, while for others, particularly retirees, it was a supplement to their income.
Eurofound (2023), Direct, Bankruptcy in France, factsheet number 200903, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200903.
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