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 Dutch owner of Newey & Eyre, the electrical wholesaling business, is to close the firm's distribution centre at Runcorn, Cheshire, putting 500 jobs under threat. Hagemeyer, the Dutch parent, confirmed last night it would replace the site with a series of regional warehouses as part of moves to revitalise its British arm. It made the change after the national warehouse at Runcorn failed to meet expectations and required temporary staff to ensure customer service levels at Newey & Eyre were met.
The group, which distributes electrical, safety and maintenance equipment to business customers, is hoping to return to the black after it made losses of €164 million (£114 million) in 2004. Hagemeyer, which employs 4,500 people in Britain, said it hoped the new logistics arrangements would enable it to better serve Newey & Eyre's 175 branches, including numerous outlets in the North West.
Eurofound (2005), Newey and Eyre, Closure in United Kingdom, factsheet number 61160, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61160.