Restructuring events
European Restructuring Monitor (ERM)
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.
The Gifi group's has announced a reorganisation of its subsidiary Tati, acquired in 2017 from the Eram group, which will result in 189 job cuts. A social plan will be launched with reemployment measures. Thirteen Tati stores will close in 2019 and about 30 others will become Gifi stores. Other stores will be taken over by Gifis' managers under a new brand. In 2020, there will only be one Tati store left in France, the one in Barbès, in Paris. Tati's losses were too high in 2018 (€28 million), according to management.
The 'yellow vest' crisis is pointed out to explain, in part, the failure of Tati's relaunch. But the trade in low-cost textiles remains a difficult market in France with increased competition. A former reogarnisation was recorded in 2004 with 297 job cuts on a total workforce of 997 employees. The group Gifi employs 9,500 people in France.
Eurofound (2019), Tati, Internal restructuring in France, factsheet number 98176, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98176.