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 Austrian Wiener Städtische insurance company and the British McArthurGlen corporation, Europe's leading designer outlet operator, plan to jointly build up Austria's second factory outlet centre at the airport centre Wals-Himmelreich close to the city of Salzburg by the end of 2007. Both companies involved announced to invest €100 million in total into the project. The plan is to set up more than 100 brand-name shops within this outlet centre, where only phase-out models, surplus products or defective goods may be offered at a rate of 30 to 70% below the regular prices. About 1,000 jobs are planned to be created. However, many small- and medium-sized garment retailers situated in the city of Salzburg are afraid that many customers will be enticed away from the inner city area by the future outlet centre.
Eurofound (2005), Wiener Städtische and McArthurGlen, Business expansion in Austria, factsheet number 62528, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62528.