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 German textile company Brax is about to close, making 450 workers redundant (in majority women). The company will relocate its activities to Poland or Romania, where labour is cheaper. The 450 workers of the Brax company demand the payment of the December wages. The Portuguese Brax, installed in Portugal since 1972, is one of the biggest textile companies of the region. In 2000, the business-oriented company registered a volume of 5 million euros. In the whole world, about 1,400 people work for Brax.
Eurofound (2004), Brax, Closure in Portugal, factsheet number 59445, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59445.