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.
Makro Belgium, a retail chain belonging to the Dutch brand Makro, has gone bankrupt, leading to the redundancy of its 1400 employees in Belgium.
While the acquisition of Makro by another company was considered, it did not go through, leading to the company officially being declared bankrupt.
Workers representatives as well as trade unions have criticised the lack of transparency of the process, which led to employees having to deal with a high degree of uncertainty for years.
As a result of the bankruptcy, Makro has filed an application for funding to the European Globalisation Adjustment Fund.
Makro has been operating in Belgium for fifty years.
Eurofound (2022), Makro, Bankruptcy in Belgium, factsheet number 200370, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200370.