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
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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