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.
Flooring retailer Carpetright has entered into a company voluntary agreement with its creditors in a bid to save the business. The changes will allow the company to continue trading though 300 jobs will be lost. The plans, which have been approved by the firm's creditors and landlords, will see a total of 92 stores closed and rent reductions applied to a further 113 sites. It is understood that 11 stores have already stopped trading. The cuts mean that around one quarter of the company's 400 stores will close, and one in nine of the 2,700 UK employees will lose their jobs. The closures are expected to be completed by the end of September 2018.
Eurofound (2018), Carpetright, Internal restructuring in United Kingdom, factsheet number 93989, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93989.