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 Orléans Commercial Court has ordered the liquidation of the Synthexim chemical plant, which has a workforce of 104 people. Business will continue until 31 May 2023, after which all employees will be made redundant. Since no buyer expressed interest in taking over the site, the court could only declare the plant in liquidation. An agreement has been negotiated between management and the liquidation trustee to set out the various bonuses and compensation that the redundant employees will receive. According to management, the site has consistently faced economic difficulties since it was acquired in 2013. The Axynthis group, which owns Synthexim, has offered around thirty positions to the 100 affected employees at its sites in Pithiviers (Loiret) and Grasse (Loiret). However, due to the geographical distance involved, only a small part of employees will consider relocating. Subsequently, the town council lodged a complaint to obtain the clean-up of the site, which is classified as a high-risk SEVESO site.
Eurofound (2023), Synthexim, Bankruptcy in France, factsheet number 108840, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108840.