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.
Asker, Askøy, Bjørkelangen, Grünerløkka, Kjørbekk, Lund, Lyngdal, Mandal, Mo i Rana, Slemmestad, Steinkjer, Vestby, Østsiden and Larvik
Sector
Wholesale / Retail Retail trade Retail sale of other goods, except motor vehicles and motorcycles 47.76 - Retail sale of flowers, plants, fertilisers, pets and pet food
250 jobs Number of planned job losses
Announcement Date
19 September 2024
Employment effect (start)
23 December 2024
Foreseen end date
Description
Plantasjen, a garden and plant retailer, announced plans to close 14 of its 69 stores in Norway, leading to the loss of 250 jobs. The closures, will be completed by December 23, 2024. Employees at the administrative offices in Skedsmo and Kongsvinger will also be affected. The restructuring is driven by declining profitability due to sluggish sales.
Plantasjen is focusing on cost-saving measures, with job reductions primarily affecting permanent retail and administrative positions. Discussions with unions are ongoing, aiming to mitigate the job losses. The selection of employees for redundancy will be based on seniority and skill level, and further measures to avoid additional layoffs are under negotiation. Union representatives have expressed strong concern, calling the job cuts "devastating" and stressing the need for management to find alternative solutions.
Plantasjen currently operates a total of 69 stores, making it a significant player in the garden retail sector. The company has been facing profitability challenges due to high inflation and low consumer demand, prompting this restructuring effort.
Eurofound (2024), Plantasjen, Closure in Norway, factsheet number 201608, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201608.
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