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.
Wholesale / Retail Retail trade Retail sale of other goods, except motor vehicles and motorcycles 47.71 - Retail sale of clothing
450 jobs Number of planned job losses
Announcement Date
3 November 2008
Employment effect (start)
1 July 2008
Foreseen end date
3 November 2008
Description
Wehmeyer, a German clothing retailer with a head office based in Aachen, announced insolvency in July 2008 with the loss of 450 jobs across 16 stores. The company employed a total of 950 people. When it first announced insolvency, it was unclear how many would lose their jobs. The company tried hard to avoid job losses.
In November 2008, a buyer was found for the company, and the remaining 500 jobs were saved. 23 of the 39 stores remain open.
Sources
3 November 2008: AP German Worldstream
Citation
Eurofound (2008), Wehmeyer, Internal restructuring in Germany, factsheet number 68104, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68104.
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