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.
Liberty Steel is an international group that focuses on ferrous and non-ferrous metal trading, metals recycling, steel and aluminium production, and engineering products and services. The company has announced restructuring measures that will mostly aftect its facility in Flemalle (Liege). According to the company management, the measure, which would lead to approximately 153 dismissals,is needed to prevent bankruptcy. In particular, the galvanization line at the facility will be affected, but some administrative functions are also targeted.
The Walloon minister of Economy Willy Borsus has publicly stated that he deeply regrets the decisions by the company management and that meetings with the unions will follow.
Eurofound (2021), Liberty Steel, Internal restructuring in Belgium, factsheet number 105355, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/105355.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
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