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
2,087 jobs Number of planned job losses
Announcement Date
8 February 2019
Employment effect (start)
Foreseen end date
Description
The supermarket chain Dia has announced the closure of 600 stores in Spain, 287 of which in 2019, and the consequent collective layoff of 2,064 employees. This announcement comes after the company’s worst financial year in 2018, with losses up to €352 million and a drop of 11.3% in sales, which led the business to technical bankruptcy.
Dia has informed workers’ representatives about the possibility of finding a buyer for the stores, which are expected to close. Trade Unions CC OO and UGT requested more explanation regarding the bad management of the company and proposed to delay the process, at least, until the shareholders' meeting in March 2019.
As of February 2019, the chain employs 40,384 people in Spain, Portugal, Argentina and Brazil. Previous restructurings took place in April (500 jobs created) and March (114 jobs lost) 2015.
Eurofound (2019), Dia, Bankruptcy in Spain, factsheet number 97187, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/97187.
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