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.
German company Dr Bock Industries recently announced that due to COVID-19 and resulting decline in orders they would close down the RHM Pants factory in Estelnic (County Covasna). Around 235 employees will be dismissed by collective redundancy.
A representative of the company said, “the Management Board and the Supervisory Board have decided to close the RHM Pants plant in Eastern Romania, as losses cannot be offset by short-term measures and no short-term market recovery is expected.”
RHM Pants was founded in 1992 and is one of Romania's largest producers of trousers. The company has other three factories in Romania at Sfantul Gheorghe and Baraolt (Covasna County) as well as factories in Germany, Italy, Bulgaria and the Ukraine.
Dr. Bock Industries was founded in 1984 and is a supplier for famous clothing brands.
Eurofound (2020), RHM Pants, Closure in Romania, factsheet number 100934, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100934.