Restructuring events
European Restructuring Monitor (ERM)
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.
Salamander, the chain of shoe shops, is planning to close unprofitable outlets and to cut up to 396 jobs. In November 2004, Salamander employed over 900 staff. The company had declared itself insolvent in September 2004 after its parent company, Garant Schuh, went through the same financial problems. Negotiations are now said to be taking place regarding a redundancy scheme.
In December 2004, it appears that 130 jobs on the 400 initially foreseen will be saved. The insolvency administrator of Garant Schuh/Salamander, has reached an agreement with the company works council of Salamander Schuh, under which business will continue for the present in 55 German outlets. The figure represents 13 more than originally planned.
Eurofound (2004), Salamander, Internal restructuring in Germany, factsheet number 60677, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60677.