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.
Vierumäki Country Club, a company that has been providing restaurant, hotel and other accommodation services in Heinola, has gone into administration. As a result of this, 150 employees will lose their jobs.
The company has had financial difficulties and last year its loss of revenue was around €500,000. These difficulties during the past years in combination with the effects of the COVID-19 pandemic on the restaurant and accommodation industry have led to bankruptcy.
The bankruptcy of the company is a significant loss for the City of Heinola since tourism is one of the growth industries of the region. The City seeks to find ways to support the employees who now lose their jobs.
Eurofound (2020), Vierumäki Country Club , Bankruptcy in Finland, factsheet number 100520, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100520.