EMCC European Monitoring Centre on Change

Marypaz

Company/Organisation:
Marypaz

Geographic Location

Country: Spain

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
47.72 - Retail sale of footwear and leather goods in specialised stores
Number Employed: 700

Employment Effects

Announcement Date: 18-06-2020
Planned Job Reductions min: 170
Type of Restructuring: Internal restructuring
Employment Effect Start: 15-07-2020
Direct Dismissals: 170

Additional Information

Marypaz, one of the largest footwear retail companies in Spain, has announced the closure of 41 of its 125 stores and a collective layoff plan affecting 170 people. The company has also introduced a temporary redundancy plan to reduce working hours of workforce during the limited sales period. This workforce adjustment plan is a consequence of the firm's decision to close 41 stores (having 125 currently) due to the Covid-19 crisis. The company's objective is to guarantee business continuity and to maintain as many employees and stores as possible.

The announcement comes after an insolvency rescue in November 2019.

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