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 kit furniture manufacturer Demeyere, badly hit by the COVID-19 crisis and by the rise in the cost of raw materials, has been taken over by the Moroccan group Safari. 238 employees will be dismissed. Headquartered in the North department, the manufacturer had filed for receivership in late 2021. The Moroccan group Safari is taking over Demeyere through its subsidiary Cema Bois de l'Atlas, which presents itself as the leading producer of plywood in Africa. Safari's offer includes the takeover of 478 of the employees of Demeyere, which employed 716 people on 1 March 2022, mainly in the north of France but also at the Nersac site in the department of Charente. For the 238 employees made redundant, 'the social plan will be very weak, there will be the minimum of the minimum, because the cash flow is exsanguinated', stated the lawyer for the employees' representatives. Safari is taking over all the assets and activities of Demeyere, valued at €4.9 million.
Eurofound (2022), Demeyère, Merger/Acquisition in France, factsheet number 106532, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/106532.
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