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 Wholesale Trade, Except Of Motor Vehicles And Motorcycles Wholesale Of Household Goods 46.42 - Wholesale of clothing and footwear
272 jobs Number of planned job losses
Announcement Date
3 June 2017
Employment effect (start)
Foreseen end date
Description
On Saturday the 3rd of June, Style Group Brands, the UK's womenswear concession retailer, announced that as a result of the chain's acquisition by Calvetron Style Holdings, 272 positions will be cut.
The acquisition will save around 1,719 jobs worldwide but 272 jobs will be lost. These cuts are largely due to the fact that independent Jacques Vert stores are not part of the sale. The majority of affected jobs will be UK based, including 98 staff at the Head Office in Shoreditch and warehouses in County Durham. 7 concessions stalls in Belgium will also be affected and the Jacques Vert stores affected will be immediately closed.
Sources
3 June 2017: Daily Telegraph
3 June 2017: Sky News website
Citation
Eurofound (2017), Jacques Vert, Merger/Acquisition in European Union, factsheet number 91310, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91310.
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