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.
Balta Industries, a carpet manufacturer, which has recently become a part of the British Victoria group, has announced that it will be closing its facility in Avelgem and roughly 250 people will lose ther job. The company has 401 workers and 85 white-collar workers. In total around half of the employees of the facility are at risk of losing their jobs, mainly blue collar workers. The remaining half of the workforce has the option to resume their work in other facilities nearby in Sint-Baafs-Vijve and Sint-Eloois-Vijve (Belgium), while another part will be relocated to Uşak (Turkey).
The company management states that the difficult economic context has forced them to close the facility. In particular the rising energy prices have made it impossible to keep the facility profitable.
Eurofound (2022), Balta Rugs, Offshoring/Delocalisation in Belgium, factsheet number 107295, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107295.
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