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 AA (Automobile Association) is to close three businesses, including its 122-strong chain of service centres; the three units employ about 1,300 people. The move comes a week after private equity firms CVC and Permira completed their £1.75 billion acquisition of the motoring services group from Centrica, although the AA said the closures had been planned for some time. About 50 service centres will be transferred to Nationwide Autocentres along with 400 employees, but the remaining sites will be closed. The AA is also shutting down its mobile tyre fitting operation, Tyre Fit, and its vehicle inspections operation.
Eurofound (2004), Automobile Association, Internal restructuring in United Kingdom, factsheet number 60636, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60636.