Type
Bankruptcy
Country
Germany
Region
Location of affected unit(s)
Sector
Retail
Retail Trade, Except Of Motor Vehicles And Motorcycles
Retail Sale Via Stalls And Markets Or Other
47.91 - Retail sale via mail order houses or via Internet

650 jobs
Number of planned job losses
Job loss
Announcement Date
25 September 2012
Employment effect (start)
1 October 2012
Foreseen end date

Description

German mail order company Neckermann, part of the US-based Sun Capital group, finally announced bankruptcy, leading to 650 additional job cuts.

Neckermann had already filed for insolvency in July but no investor was found to invest in the fragmented company.

In total the bankruptcy will result in 2000 job losses, 1350 lost in the previous round of restructuring (see here). 


Sources

  • 28 September 2012: Financial Times Deutschland

Citation

Eurofound (2012), Neckermann, Bankruptcy in Germany, factsheet number 74194, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74194.