Type
Bankruptcy
Country
Poland
Region
Location of affected unit(s)
Sector
Wholesale / Retail
Retail trade
Retail sale of other goods, except motor vehicles and motorcycles
47.71 - Retail sale of clothing

146 jobs
Number of planned job losses
Job loss
Announcement Date
17 September 2019
Employment effect (start)
Foreseen end date
31 October 2019

Description

Clothing retail company Cubus received a court authorisation to the liquidation through bankruptcy proceedings. The decision means that the company closes its 17 stores across the country, resulting in the dismissal of 146 employees by the end of October 2019. The company justifies the liquidation with poor levels of profitability for its activities in Poland.

The company is part of clothing group Varner, which owns 1,100 stores in Norway, Sweden, Finland, Germany and Latvia.


Sources

Citation

Eurofound (2019), Cubus, Bankruptcy in Poland, factsheet number 98684, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98684.