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Burberry to close Barcelona facility
25
Feb '10
Burberry Group plc, the global luxury company, has announced the planned restructuring of its Spanish operations consistent with its strategy of aligning Burberry in Spain with its global business model.

With the continued economic downturn in Spain, it is no longer viable for Burberry to design and sell collections produced exclusively for this market. Losses are now expected from Spain in 2009/10 and beyond. Burberry is therefore implementing a restructuring plan which includes the following measures:

• Introduction of the global collection with effect from Spring/Summer 2011 across all channels in Spain.
• Cessation of the local collection after Autumn/Winter 2010.
• Closure of the facility in Barcelona responsible for this local collection. Burberry will shortly be entering into a consultation process which could lead to around 300 redundancies.

The one-off charge associated with this planned restructuring will be between Euro50m-70m, with the principal costs being fixed asset and inventory write-offs; as well as the costs of the associated social plan. Further details of the impact of this planned restructuring on revenue, profit & loss and cash, especially in the transitional year 2010/11, will be given at the Group's preliminary results in May 2010. Adjusted group profit before tax for 2009/10 remains in line with expectations.

Burberry Group plc


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