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
194 jobs Number of planned job losses
Announcement Date
7 March 2019
Employment effect (start)
7 March 2019
Foreseen end date
Description
German fashion retailer AWG has announced that it will be closing 27 branches, resulting in the loss of 194 jobs. In January 2019, the company filed a petition for insolvency. The job reduction is part of a plan to restructure the company and make it profitable again.
AWG has yet to announce a timeframe for the job reduction. Furthermore AWG confirmed that cuts will be made as socially acceptable as possible, but compulsory redundancies cannot be excluded.
AWG has 290 branches in Germany employing 2,900 people.Â
Eurofound (2019), AWG, Internal restructuring in Germany, factsheet number 97401, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/97401.
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