Type
Closure
Country
Norway
Region
Location of affected unit(s)
Sector
Wholesale / Retail
Retail trade
Retail sale of cultural and recreational goods
47.63 - Retail sale of sporting equipment

115 jobs
Number of planned job losses
Job loss
Announcement Date
16 May 2014
Employment effect (start)
1 June 2014
Foreseen end date
31 July 2014

Description

Sporting goods chain Ultimo Outdoor is closing all of its 22 stores across Norway. All 115 employees will be dismissed. The store chain has been running a deficit for several years, as the competition on the sports goods market has hardened. The owners have for some years kept the company running by inducing new capital, but have now decided against further investments.


Sources

Citation

Eurofound (2014), Ultimo Outdoor, Closure in Norway, factsheet number 77058, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77058.