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.
Garment trade firm Herukon has gone into administrtion after the company piled up liabilities amounting to Ft 300 million. Established in 1954, the Sátoraljaújhely-based firm appealed for state help in May 2005 in order to save some 570 jobs but was unable to succeed of it as it failed to pay off its debts, a condition for the aid. Production, however, will continue in Sátoraljaújhely as part of the company's site has been leased to an investor, which will be relaunching operation with 80 staff.
Eurofound (2005), Herukon, Closure in Hungary, factsheet number 62401, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62401.