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
100 jobs Number of planned job losses
Announcement Date
10 October 2011
Employment effect (start)
10 October 2011
Foreseen end date
30 November 2011
Description
Media Markt-Saturn, German chain-retailer of consumer electronics, announced the closure of 3 big stores in Athens and Thessaloniki. As such 100 people remain jobless. Affected are the SATURN shops in Faliron (Athens), Gerakas (Attica) and Stavroupoli (Thessaloniki) with 50% of the personnel being relocated to work places within the corporation.
Media Markt issued a statement only after Greek mediahad already reported on the shut-down.
Media Markt will keep the remaining 10 shops in several Greek cities. With 13 shops Media-Saturn was giving work to 1,000 people.
Eurofound (2011), Media Markt-Saturn, Closure in Greece, factsheet number 72687, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72687.
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