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 Trade, Except Of Motor Vehicles And Motorcycles 47 - Retail trade, except of motor vehicles and motorcycles
340 jobs Number of planned job losses
Announcement Date
18 May 2007
Employment effect (start)
Foreseen end date
Description
A subsidiary of German retailer Rewe, Toom, has expanded to become Germany’s third largest home improvement company. After acquiring Marktkauf, a former subsiary of retailer Edeka, the overall sales of Toom have risen to 2 billion Euro. The acquisition still has to pass the ruling of the antitrust agency. Marktkauf currently holds 145 stores in Germany and employs 5,240 people. Toom is planning to close 12 stores as a result of which 340 jobs are at risk. Toom alone, without Marktkauf, currently employs a workforce of 9,000.
Sources
18 May 2007: Handelsblatt
Citation
Eurofound (2007), Toom, Merger/Acquisition in Germany, factsheet number 65364, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65364.
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