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.
Sitek Insulation, a manufacturer of unique insulating panels in Wissembourg, is being liquidated on March 3rd, rendering its 104 employees redundant. Since entering legal redress in July 2023, the company has failed to secure a takeover offer or recover financially.
Founded in 1965 by an American group, the company produced unique products but was unable to withstand the high energy costs resulting from the Ukraine war. In an effort to save the business, 65 employees mobilized to establish a worker cooperative. However, they were unable to raise the necessary 6 million euros due to a lack of interest, failing to meet the company’s deficit.
Eurofound (2025), Sitek Insulation, Bankruptcy in France, factsheet number 202411, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202411.