herstructurering

British department store chain Marks & Spencer feels the need to reduce twenty of its major stores in size and seeks ways to turn higher floors into offices or apartments.

Esprit keeps slipping away: both turnover and profit have been hit in the past financial year. Nevertheless, the fashion group has also seen signs that the restructuring and numerous store closures are finally bearing fruit.

Tom Tailor is close to a refinancing agreement. The clothing group has been able to conclude an agreement with the owner, Fosun, and the banks. As for Bonita, the cause of the problems, a new buyer is being sought.

German chains MediaMarkt and Saturn have seen their losses grow by 50 % and turnover stagnate, but owner Ceconomy believes the future is positive as transformation should bring rewards.

Luxury brand Armani needs to bite the bullet in order to emerge stronger next year. That is what founder Giorgio Armani believes, seeing turnover drop and profits go down by more than half after restructurings.

After making its exit from Italy, hypermarket group Auchan is now also leaving Vietnam. The French retailer is selling its eighteen outlets as part of a large-scale restructuring effort to compensate for a billion euro loss.

Galeria Kaufhof Karstadt, the company that resulted from the merger between German department store chains Karstadt and Galeria Kaufhof, should become profitable again by 2021. This could be achieved without closing any stores, CEO Stephan Fanderl hopes.