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.
Madrid, Cataluña, Galicia, Comunidad Valenciana, Castilla-La Mancha, Murcia, Canarias and Andalucía.
Sector
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
119 jobs Number of planned job losses
Announcement Date
21 January 2011
Employment effect (start)
30 November 2010
Foreseen end date
30 November 2011
Description
The commercial court in Madrid has accepted the redundancy plan (expediente de regulacíon de empleo', ERE) for 119 workers presented by the Spanish clothing retailer Coronel Tappioca, which has been undergoing bankruptcy procedures since 2010.
The redundancy procedure will result in 119 direct dismissals. Approximately 181 employees will remain on site and 21 shops will be closed (43 shops will remain opened) in the regions of Madrid, Catalonia, Galicia, Valenciana, Castilla-La Mancha, Murcia, Canaries and Andalusia.
The Court confirmed the agreement reached between the the staff's representatives and the bankruptcy trustee for a 23-day compensation for every year of service, up to a maximum of 12 months. This redundancy plan is the second presented since 2008, when Coronel Tappioca dismissed 14% of their staff.
Sources
21 January 2011: Intereconomia
Citation
Eurofound (2011), Coronel Tappioca, Bankruptcy in Spain, factsheet number 71690, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71690.
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