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.
Purmo, a Belgian manufacturer of radiators for domestic use have declared bankruptcy. All 143 of their employees at their facility in Zonhoven are at risk of being dismissed. The main reasoning behind the closure is a significant reduction in demand for 'classic' radiators in homes. The installation of radiators connected to gas heating systems has been drastically reduced since it is prohibited within newly built homes. Trades unions have started the negotiation and consultation phase with the company management as prescribed within the national restructuring law.
** Update 05/11/2024 ** A total of 114 employees were actually dismissed out of the 143 announced. Following the closure of the Purmo facility and the Sappi one in the same period (Sappi 2023 - BE), Belgium applied to the European Globalisation Adjustment Fund for Displaced Workers (EGF). The European Commission proposed to support 632 workers out of the 681 dismissed, with €700,000 from the fund.
Eurofound (2023), Purmo, Closure in Belgium, factsheet number 109044, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109044.
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