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.
TallinnHotels is a group that operates three hotels in the capital of Estonia. In June it announced its bankruptcy and that 120 employees would be laid off. The reason is the COVID-19 outbreak and the containment measures to stop the spread of the measure which resulted in closed borders and an instant drop in the number of tourists. The owner of the group stated that such a crisis emerging from the low-season made the business commercially non-viable.
Eurofound (2020), TallinnHotels, Bankruptcy in Estonia, factsheet number 100933, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100933.