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 Wholesale Trade, Except Of Motor Vehicles And Motorcycles Wholesale On A Fee Or Contract Basis 46.16 - Agents involved in the sale of textiles, clothing, fur, footwear and leather goods
300 jobs Number of planned job losses
Announcement Date
26 June 2013
Employment effect (start)
1 September 2013
Foreseen end date
30 September 2013
Description
German department store chain JOH filed for insolvency in May 2013 and will close all stores by September 2013, dismissing 300 employees.
This decision was taken because of the firm’s inability to compete with online trading companies.
The cities of Friedberg and Gelnhausen (Hesse), Gotha and Saalfeld (Thuringia) and Zwickau (Saxony) will be the most affected by the direct dismissals.
The insolvency manager indicates that some stores may find new investors.
Sources
26 July 2013: Frankfurter Runfschau
Citation
Eurofound (2013), JOH, Bankruptcy in Germany, factsheet number 75627, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75627.
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