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.
As announced on 8 January 2021, the German textile finishing company Lindenfarb will be cutting 120 jobs due to internal restructuring until the end of January 2021. After declaring insolvency in 2020 - for the third time within the last 5 years - an investor was found, and the rehabilitation procedure will be completed at the end of January. Part of the process is the reduction of 120 jobs in Aalen, which is equivalent to half of the company’s employees. Lindenfarb was hit hard by the COVID-19 crisis, making the insolvency process inevitable. As of today, there is no information on a social plan available.
Currently, Lindenfarb has 240 employees in Germany.
Eurofound (2021), Lindenfarb, Bankruptcy in Germany, factsheet number 102992, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102992.