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, a multinational company and producer of rugs and carpets has announced the closure of its facility in Sint-Baafs-Vijve. Concretely the production will be stopped and transferred to other facilities within the United-Kingdom, leading to dismissal of all 295 active employees at the facility.
The company management has stated that the main reasoning is the fact that due to rising costs it is no longer economically viable to continue production in Belgium. In addition, the facility is specialized in wall-to-wall carpeting. These products are decreasing in popularity within Continental Europe. In the UK, the market for these specific products is less affected by this decrease in demand.
As is required by the law, social partners have began negotiations with the company mangagement in order to look for alternative solutions to closure.
Eurofound (2023), Balta, Outsourcing in Belgium, factsheet number 108414, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108414.