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.
The clothing manufacturer company Italco has announced the closure of its factory in Sant Quirze del Vallès (Barcelona), where it manufactures garments for the Italian chain Ermenegildo Zegna. The restructuring will affect 246 employees. The company states that the closure is due to economic reasons, specifically to the fall in demand for formal wear in the last five years.
The terms of the plan are already being negotiated with the unions, but the company assures that all possible options have been considered and the only viable possibility is the closure. However, the unions consider that the factory could resist if production from other centres were to return to Sant Quirze del Vallès, as the factory has undergone several production relocation processes in recent years.
Eurofound (2021), Italco, Closure in Spain, factsheet number 103542, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103542.