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 Information And Communication Equipment In Specialised Stores 47.43 - Retail sale of audio and video equipment in specialised stores
230 jobs Number of planned job losses
Announcement Date
18 November 2013
Employment effect (start)
1 January 2014
Foreseen end date
31 August 2014
Description
The commercial court of Antwerp announced the bankruptcy of the home entertainment retailer Free Record Shop. This results in the closure of 68 shops and the loss of 230 jobs.
As reported, the company is not financially sustainable and there is a possibility in the future that the retail chain will re-launch its operations with a fewer number of shops.
Sources
19 November 2013: L'Echo
19 November 2013: DH
20 November 2013: 7sur7
Citation
Eurofound (2013), Free Record Shop, Bankruptcy in Belgium, factsheet number 76191, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76191.
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