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 company Schwarzbauer announced on 23 February 2005 that it would build a new commercial complex Arena Park in Folmava, near-by the German border. The construction with investment of 25 millions euros was to be finished by the first quarter of 2006. However, German authorities were against such a big shopping centre situated on the Czech-German border. They argued it would transfer the purchasing power from Germany to the Czech Republic. Investors would also benefit from Sunday opening hours that are illegal in Germany.
On 8 June 2006 the newspaper reported that the construction of the shoping centre was postponed and whereas 250 to 400 jobs were initially announced, the number of potential employees has now decreased to 140. The jobs created will be mainly in the service sector (shop-assistants, charwomen, cooks).
Eurofound (2005), Schwarzbauer, Business expansion in Czechia, factsheet number 61165, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61165.