Studenac Closes 104 Stores and Shares Pile of Layoffs
8 Articles
8 Articles
The Studenac retail chain announced today a major reorganization of its business as part of the pre-bankruptcy procedure. It is closing 104 stores, cutting administration jobs by 40 percent and shutting down wholesale as a separate part of the business. The changes, according to the company, are necessary for financial stabilization.
In cases where it will not be possible for employees to continue working in the same or similar jobs, the company will act in accordance with the Labor Law and respect all the rights that employees are entitled to on that basis.
As part of the changes, the number of jobs in the administrative part of the company will be reduced by 185 employees, or approximately 40 percent.
Store closures continue. The Studenac retail chain has announced a major reorganization of its operations as part of the pre-bankruptcy procedure. It closes as many as 104 stores, reduces the number of jobs in the administration by 40 percent and abolishes wholesale as a separate part of the business. We've looked at what this means for customers...
Retail chain Studenac announced today that it will close 104 stores across Croatia, including five branches in the Koprivnica-Križevci County. Stores in Koprivnica, Carevdar, Sokolovac and Subotica Podravska are expected to close, although the exact date is not yet known. This is part of a comprehensive restructuring by which the company is trying to stabilize its financial operations in […] The post Studenac is closing 104 stores. See the list …
Studenac says that the decisions to close the stores were made after analyzing their business viability, results and role in the future structure of the network. All employees of the stores that are closing, a total of 335, have been offered the opportunity to continue working in other Studenac stores.
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