Restructuring events
European Restructuring Monitor (ERM)
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.
On 14 February 2017, Austrian furniture retailer XXXLutz announced to create up to 900 new jobs during 2017. The retailer will open three new stores in Bopfingen, Villingen-Schwenningen (both in Baden-Wurttemberg) and Wolfratshausen (Bavaria). Furthermore, five new sites of its subsidiary Mömax will be opened in Germany in 2017. The XXXLutz-Group wants to invest about €240 million in these new sites and in hiring new employees.
Already in 2016 XXXLutz announced to create new jobs in Germany (XXXLutz, 2016 and XXXLutz, 2016). In total, 300 new jobs were announced previously of which 100 jobs will be created in 2018 and 200 in 2017. It seems that these 200 jobs were included in the total 900 jobs to be created.
The group is currently operating 237 stores and employs 20,800 people. 38 stores are located in Germany. Also in other European countries the company is planning to expand its business, see XXXLutz, 2017.
Eurofound (2017), XXXLutz, Business expansion in Germany, factsheet number 90482, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90482.