EMCC European Monitoring Centre on Change

DK Company

Company/Organisation:
DK Company

Geographic Location

Country: Denmark
Region: Ringkøbing amt
Location of affected unit(s): Herning, various locations

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
47.51 - Retail sale of textiles in specialised stores
Number Employed: 1550
Group: DK Company

Employment Effects

Announcement Date: 17-03-2020
Planned Job Reductions min: 125
Planned Job Reductions max: 125
Type of Restructuring: Internal restructuring
Employment Effect Start: 17-03-2020
Direct Dismissals: 125

Additional Information

The Danish fashion clothing group, DK Company, announced on 17 March 2020 that it has made 125 employees redundant due to falling profits during the COVID-19 pandemic. Furthermore, 250 stores in Denmark and Norway will temporarily close because of the spread of the coronavirus. DK Company expects its revenue to drop by up to DKK 1 billion (€133.93 million as at 27 April 2020) in 2020 because of a significant drop in sales. This corresponds to one-third of its revenue.

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