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.
218 jobs look set to be lost in Grimsby after Humber Fibres Worldwide Group, a Grimsby company making fibre optics, went into administration. The firm has been trading for less than a year, after taking over the former Grimsby Accordis fibre company last year.
Administrators Deloitte say they want to dispose of all or part of the business as a going concern. The escalating cost of raw materials and high gas prices are being blamed for the company's problems. Administrator Lee Manning said: 'We are looking to continue to trade the company whilst the business is marketed as a going concern and are speaking with the customers, and key suppliers, as well as potential interested parties.'
He added: 'The reaction of the 218 strong workforce to the appointment has been first class and the continued support of the employees will be essential if a successful outcome is to be achieved.'
The company produces carbon fibre precursor and speciality fibres from leasehold premises in Grimsby. MP Austin Mitchell has appealed for government help to save the factory. The news of further job losses in the area prompted the Chief Executive of North East Lincolnshire Council, George Krawiec, to issue an urgent appeal for more businesses to come into the region. 'This is a blow which is perhaps not unexpected, but enforces the need for everybody including the council to make haste in ensuring that we bring all available employment opportunities to this area as quickly as we can.'
Eurofound (2006), Humber Fibres Worldwide Group, Closure in United Kingdom, factsheet number 64161, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64161.
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