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 Household Equipment In Specialised Stores 47.59 - Retail sale of furniture, lighting equipment and other household articles in specialised stores
198 jobs Number of planned job losses
Announcement Date
3 April 2012
Employment effect (start)
Foreseen end date
31 December 2012
Description
Furniture retailer Arance has applied for a redundancy procedure affecting its entire workforce i.e. 198 employees. This will entail the closure of all the shops across three different regions: Andalucía, Madrid and Extremadrua. The measure is blamed on the economic downturn.
The redundancy procedure conditions have been agreed with the employee's representatives. The workers will receive a compensation for dismissal of 20 days per year worked. The company expects to close all the shops before 31 December 2012.
Sources
3 April 2012: Europapress
Citation
Eurofound (2012), Arance, Closure in Spain, factsheet number 73416, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73416.
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