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 47.52 - Retail Sale Of Hardware, Paints And Glass In Specialised Stores
190 jobs Number of planned job losses
Announcement Date
30 April 2024
Employment effect (start)
3 May 2024
Foreseen end date
3 July 2024
Description
Toolstation, a British tool retailer belonging to the Travis Perkins PLC group, has been operating in France since 2017, but has gone out of business and is looking for a buyer. The closure will result in the closure of 52 shops in France, including seven in the Rhône region. Management has announced collective redundancies affecting around 400 employees, including around 190 in the Lyon region, as part of a job protection plan. A number of factors are cited, including a downturn in the DIY market, increased competition in the convenience segment and a lack of brand awareness.
Last December, the brand announced its intention to expand from 50 to 130 shops in 5 years.
Eurofound (2024), Toolstation, Internal restructuring in France, factsheet number 201162, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201162.
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