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.
BelGaN, a Belgian producer of microchips, has announced its intention to declare bankruptcy. In total, approximately 440 employees are at risk of losing their job.
The company intended to shift its production to a new type of GAN microchip after being bought in 2022. In order to make this transition, it needed to secure additional funding, but failed to do so. In addition, the company management stated that high costs due to high wages and energy costs in Belgium contributed to the decision to close the factory.
Trade unions state that staff at the facility are concerned that the company may no longer be able to pay salaries.
Eurofound (2024), Belgan, Bankruptcy in Belgium, factsheet number 201443, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201443.