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.
The GTE Automotive Group, a manufacturer of vehicles, is being liquidated, rendering 350 employees redundant. The liquidation includes seven of its subsidiaries, such as Durisotti dimissing 161 employees, Kluge, SPAC, Créafer, and three others.
The employees are looking for legal proceedings. Local unions, including the CGT and the company’s CSE, have also expressed concern. Employees of Durisotti are considering turning the subsidiary into a cooperative.
The decision follows financial difficulties and a lack of orders, prompting the court to order the group's liquidation. The shutdown reflects economic pressures within the automotive sector.
Eurofound (2026), GTE Automotive, Bankruptcy in France, factsheet number 300527, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/300527.