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
116 jobs Number of planned job losses
Announcement Date
3 October 2024
Employment effect (start)
1 January 2024
Foreseen end date
Description
Nordic Fashion Brands, the owner of the Noa Noa chain, has declared bankruptcy due to prolonged financial difficulties. The company has struggled to stay profitable amid a challenging market environment, leading to the decision of closure and declaring bankrupt. The bankruptcy affects all retail outlets and employees associated with the brand, marking a significant impact on the fashion industry. This closure underscores the broader economic challenges faced by many fashion retailers today, as they navigate changing consumer behaviors and increased competition.
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.
