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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