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
92 - 100 jobs Number of planned job losses
Announcement Date
27 July 2007
Employment effect (start)
1 August 2007
Foreseen end date
31 December 2007
Description
The acquisition of Outiror, a French firm that retails DIY and gardening tools, by UK investment fund Sisu Capital Limited is to lead to between 92 and 100 job losses at Outiror. Outiror, at which 230 are employed, went into receivership in May 2007 with debts of 28 million EUR. Sisu Capital Limited then attempted to buy the bankrupted firm, before Tours Commercial Court authorized the acquisition on 27th July 2007. Sisu Capital Limited have stated that they will safeguard between 130 and 128 jobs at the company, yet will make 92 to 100 redundancies between August and December 2007. The UK firm has also not ruled out redeploying a further 60 employees, 30 of whom may be transferred to another site in the Calvados region.
Sources
27 July 2007: AFP
28 July 2007: Ouest France
30 July 2007: Les Echos
Citation
Eurofound (2007), Outiror, Merger/Acquisition in France, factsheet number 65653, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65653.
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