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 Of Other Goods In Specialised Stores 47.71 - Retail sale of clothing in specialised stores
88 jobs Number of planned job losses
Announcement Date
23 October 2017
Employment effect (start)
Foreseen end date
Description
Clothing retailer Greenwoods has announced that a buyer has been found for the majority of the business. The business entered administration in September 2017, and at that time it was hoped that a buyer would be found for the entire company. Versatile International Trading Limited have now bought 40 of the firm's 63 stores as well as the head office and warehouse functions. This means that around 181 store jobs have been saved, though there will be 88 redundancies from the 22 stores which will close immediately.
Sources
23 October 2017: Chronicle Live
24 October 2017: Eastern Daily Press
Citation
Eurofound (2017), Greenwoods, Bankruptcy in United Kingdom, factsheet number 92384, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/92384.
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