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 In Non-Specialised Stores 47.11 - Retail sale in non-specialised stores with food, beverages or tobacco predominating
100 jobs Number of planned job creations
Announcement Date
6 June 2018
Employment effect (start)
6 June 2018
Foreseen end date
31 December 2018
Description
Retailer Palink announced plans to create at least 100 new jobs across different regions of Lithuania by the end of 2018. The company plans to open 5 new stores in Lithuania in 2018, each of them employing 20-40 employees. The first new store was opened on 6 June 2018. It employs 23 employees. Currently Palink operates 233 stores with more than 6,700 employees under the IKI brand.
In December 2016, Rimi Baltic announced the intention to acquire the IKI retail chain. However in October 2017, the Lithuanian Competition Authority blocked Rimi Baltic's acquisition of Palink which runs the IKI retail chain. According to the Authority, Rimi Baltic has failed to meet its commitment to sell 17 stores, a condition the Authority set for concluding the deal.
Sources
6 June 2018: Delfi Verslas
Citation
Eurofound (2018), Palink, Business expansion in Lithuania, factsheet number 94313, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94313.
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