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
150 jobs Number of planned job losses
Announcement Date
1 July 2024
Employment effect (start)
Foreseen end date
Description
Duror Fashion Group, a Belgian chain of clothing retailers which overarches the Terre Bleue, Gigue and Zilton brands has declared bankruptcy. In total, approximately 150 employees are at risk of losing their job because of this. According to the company management, the main reasoning behind the bankruptcy is that its debt ratio increased dramatically during the COVID-19 crisis and failed to improve in the following years.
According to recent news reports, several potential buyers, both Belgian and foreign are interested in taking over the company (some are interested in certain parts, others are willing to take over the entire chain).
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
