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 South Shields-based Circatex that makes printed circuit boards has called in administrators placing the future of 200 jobs in doubt. At one point the plant employed more than 1,400 people when it was established by then American owners Viasystems in 1999. Pressure from far East competitors and increasing energy costs have plunged the company into crisis. Joint administrators Hunter Kelly and Charles King of Ernst & Young were appointed at the request of the directors and as a result of cash pressure from trading losses in 2005. The company has evolved from a series of predecessor businesses including Plessey, Interconnection Systems, Viasystems and, more recently, Circatex Limited.
Eurofound (2006), Circatex, Closure in United Kingdom, factsheet number 62799, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62799.