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 traditional printing office Omega situated in Vienna closed production completely on 13 May 2005, exactly one month after adjudication in bankruptcy. As a consequence, 113 employees lost their jobs. The company was Austria's market leader in producing manifold paper, delivery books and blank forms. However, since a growing number of people has seized the opportunity to download blank forms from the world wide web and print them on their own, sales have significantly decreased during the last years. In the end, the company ran at a loss of €150,000 per month. It remains unclear whether a re-employment scheme will be introduced.
Eurofound (2005), Omega, Bankruptcy in Austria, factsheet number 61600, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61600.