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 In Non-Specialised Stores 47.11 - Retail sale in non-specialised stores with food, beverages or tobacco predominating
206 - 418 jobs Number of planned job losses
Announcement Date
23 February 2017
Employment effect (start)
Foreseen end date
Description
Finnish wholesale and retail group Kesko is planning to close 51 Siwa and Valintatalo stores resulting in 206 redundancies. Some of the employees made redundant might be re-hired in other branches of the K-group. All Siwa and Valintatalo stores will be incorporated in the general K-group of stores, with over 400 stores becoming K-stores. The 51 stores which will be closed have not been profitable, which is why they will be closed rather than transformed into K-stores. In addition, 60 stores will be sold in accordance with rules from the Finnish Competition and Consumer Authority after the recent purchase of the company Suomen Lähikauppa. If a seller cannot be found an additional 212 employees will risk dismissal.
Eurofound (2017), Kesko, Merger/Acquisition in Finland, factsheet number 90335, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90335.
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