Economic Undertakings

NoHo Partners will lay off staff and start new ones


NoHo Partners Plc

MARKETING on December 21, 2021 at 11:23 p.m.

NoHo Partners to lay off staff and start new cooperation negotiations to adapt operations to tightening restaurant restrictions

NoHo Partners Plc will lay off staff and start new negotiations under the Business Cooperation Act to adjust its operations to restrictions on the restaurant industry, which were announced by the Finnish government today and will come into effect December 24, 2021.

The company will have to close the majority of its restaurants and with immediate effect lay off almost all of its staff in Finland, or around 1,250 employees, as part of the previous round of cooperation negotiations. The redundancies will be valid until further notice.

The company will start the new cooperation negotiations on January 3, 2022, and they are expected to last two weeks. The objective of the negotiations is to minimize the economic impact of the COVID-19 pandemic and to prepare for a possible extension of the pandemic situation.

The negotiations concern all of the Group’s employees in Finland, ie around 1,250 employees. The restrictions on restaurants also indirectly impact the approximately 2,000 people working for the Group as hired personnel. Negotiations can result in temporary full-time or part-time layoffs.

More information available on:
Aku Vikström, CEO, NoHo Partners Plc, tel. +358 44 011 1989
Jarno Suominen, Deputy Managing Director, NoHo Partners Plc, tel. +358 40 721 5655

Distribution:

Nasdaq Helsinki
Main media
www.noho.fi

NoHo Partners Plc
is a Finnish group created in 1996, specializing in catering services. The company, which was listed on NASDAQ Helsinki in 2013 and became Finland’s first listed restaurant company, has continued to grow strongly throughout its history. Group companies include some 250 restaurants in Finland, Denmark and Norway. The company’s well-known catering concepts include Elite, Savoy, Teatteri, Stefan’s Steakhouse, Palace, Löyly, Hanko Sushi, Friends & Brgrs and Cock’s & Cows. Depending on the season, the Group employs around 2,100 people who are converted into full-time employees. The company aims to achieve a turnover of around 400 million euros by the end of 2024. The company’s vision is to be the leader in catering in Northern Europe.