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.
Nyobe Belgotex, a producer of carpet yarn and polymers has announced it will be closing its facility in Kruisem. In total, 157 employees are at risk of losing their jobs.
The company management states that falling demand for carpet yarn, rising energy costs and tougher competition from Asia as the main reasons behind the difficulties and closure of the facility.
After negotiations with trade unions efforts and strategies were undertaken to save parts of the facility. However, after several weeks these attempts failed.
Eurofound (2024), Nyobe Belgotex, Closure in Belgium, factsheet number 201532, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201532.