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.
Acordis the textile fibre manufacturer has appointed receivers after being put into administration. This means that 475 employees in Bradford and Grimsby are threatened with losing their jobs. The company is jointly owned by the British and Dutch companies CVC Capital Partners and Akzo Nobel.
In early August 2005 Acordis made 160 workers redundant at its Grimsby plant two months after going into administration and it also said its spinning operation in Bradford would close with the loss of 52 jobs.
Administrators Deloitte said talks were continuing with a number of companies who have expressed interest in buying the Grimsby plant as a going concern. Some 258 staff will remain at the site which will continue to manufacture materials for aircraft braking systems.
Eurofound (2005), Acordis, Closure in United Kingdom, factsheet number 61665, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61665.