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.
Information / Communication Publishing Of Information; Production And Programming Of Audiovisual Publishing Activities 58.11 - Book publishing
450 jobs Number of planned job losses
Announcement Date
31 March 2018
Employment effect (start)
30 April 2018
Foreseen end date
30 June 2018
Description
In receivership since November 2017, France Loisirs has announced an 'emergency' employment safeguard plan that will lead to 450 job cuts on a total workforce of 1,800 employees. The aim is to preserve its cash and the chance to find a partner. France Loisirs publishes and sells books at preferential prices for customers who have joined the 'France Loisirs Club'. Management believes that this business model, based on membership to obtain preferential rates, is no longer suitable to cope with competitors as Amazon. Several sites will be closed on national level including 36 bookshops. France Loisirs has employed 2,500 people in 2015 when it was taken over by the new owner. Its turnover decreased from €217 million in 2016 to €185 million in 2017.
Sources
4 April 2018: Francetv.info
31 March 2018: Actualitté
Citation
Eurofound (2018), France Loisirs, Internal restructuring in France, factsheet number 93771, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93771.
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