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.
As announced on 2 September 2024, the insolvent travel company FTI is now being wound down. The company is laying off 700 of its 1,400 employees in Germany.
Around 600 employees will receive their termination notices, taking effect in retrospect on 1 September 2024. The remaining 100 staff will stay with the company for a short time to help wind it down. The other half of the 1,400 employees in Germany were able to keep their jobs through the sale of FTI subsidiaries or by moving to other travel providers.
FTI has debts of 1 billion euros and filed for insolvency in June 2024.
Eurofound (2024), FTI Touristik, Bankruptcy in Germany, factsheet number 201547, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201547.