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.
149 jobs look set to go at Scottish sweet manufacturer Millar McCowan after the firm went into receivership. The firm has two plants in Stenhousemuir, near Falkirk, and Broxburn, West Lothian, both of which will be shut within weeks unless a buyer is found. The firm had struggled with restructuring costs since being formed from the ailing John Millar and Sons and McCowan's last year. Graham Wallace, chief executive of Millar McCowan, said: 'I am very disappointed that we have not been able to keep both sites running and I am particularly sorry for the loyal employees who have faced a lot of anxious moments over the last two years.'
'This is a difficult and competitive sector of the UK confectionery market and so, unfortunately, we cannot keep something running that is not working commercially.'
Graham Martin of administrators PricewaterhouseCoopers said: 'The costs of internal restructuring and the time taken to re-establish the brands in their chosen markets have led to cash and creditor pressures.'
'It is with regret that the decision has had to be taken to close manufacturing at both sites with the loss of 149 jobs.'
'Eight staff are being retained in the short term.'
Eurofound (2006), Millar McCowan, Closure in United Kingdom, factsheet number 63928, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63928.
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