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.
A. Hausmann, an Austrian wholesale company for clothing, has filed for bankruptcy in August 2022, six wholesale market branches were closed and 210 jobs were cut. All seven company units have been affected. Pandemic, energy price increases and the high inflation led to economic problems. By the end of January, Due to a 'recovery plan' which facilitates and coordinates continuation of a portion of the comany, the head office will be able to continue to operate with 40 employees. Following the recovery plan, the company is to be continued by a restructuring plan in order to reduce debts. The cash flow is meant to pay the continued operation and part of the restructuring plan quota of 26 percent within two years. The managing director, Christoph Hausmann thanked the employees for their comittment and support until the closing at the end of the procedure.
Eurofound (2022), A. Hausmann , Bankruptcy in Austria, factsheet number 108341, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108341.