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.
Hungarian furniture maker, Zala Bútor Zrt., is to stop its production by the end of April 2007, after 50 years of operation. The company has been focusing on producing natural wooden furniture for family homes and for hotels. Zala Bútor had as many as around 600 employees 10 years ago but due to raising prices of raw materials, shortage of orders and increasing competition, the company had to lay off employees and stop production. The company concluded only 1 contract with a customer in previous months and all 153 employees will be laid off after the contract is terminated at the end of April.
Eurofound (2007), Zala Bútor, Closure in Hungary, factsheet number 64997, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64997.