Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Wholesale / Retail
Retail trade
Non-specialised retail sale
47.12 - Other non-specialised retail sale

200 jobs
Number of planned job losses
Job loss
Announcement Date
25 March 2014
Employment effect (start)
25 March 2014
Foreseen end date
30 June 2014

Description

German retail chain Strauss Innovation will close 17 stores by midyear and thus make 200 people redundant. 140 people will be able to change to a transfer agency. Of the job cuts, 30 are in the main office.

This is part of Strauss’ rehabilitation concept. Strauss filed for insolvency in self-administration in January 2014. In total, the company runs 96 stores and employs 1,400 people. 

The ERM reported previously on job cuts at Strauss Innovation announced in 2009.


Sources

  • 26 March 2014: Frankfurter Allgemeine Zeitung
  • 25 March 2014: Strauss Innovation (press release)

Citation

Eurofound (2014), Strauss Innovation, Internal restructuring in Germany, factsheet number 76751, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76751.