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.
Wholesale / Retail Retail trade Retail sale of other goods, except motor vehicles and motorcycles 47.71 - Retail sale of clothing
900 jobs Number of planned job losses
Announcement Date
11 July 2017
Employment effect (start)
Foreseen end date
Description
Fashion retailer Store Twenty One has announced that it is to cease trading with the loss of 900 jobs. The Solihull headquartered company, which has been under pressure for some time, has entered compulsory liquidation. The restructure in 2016, which saw 77 stores close, had been intended to save the future of the company, though this has ultimately proven to be unsuccessful. The business was unable to secure the additional investment required to keep operating. The court decision to issue a compulsory liquidation notice means that 122 stores will close with immediate effect.
Sources
11 July 2017: BBC Website
11 July 2017: The Guardian
Citation
Eurofound (2017), Store Twenty One, Bankruptcy in United Kingdom, factsheet number 91526, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91526.
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