Euro-Auto Hose

Type
Bankruptcy
Country
France
Region
Bourgogne-Franche-Comté; Bourgogne; Nièvre
Location of affected unit(s)
Nevers
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
29.3 - Manufacture of motor vehicle parts and accessories
29.3 - Manufacture of motor vehicle parts and accessories
178 jobs
Number of planned job losses
Job loss
Announcement Date
27 July 2007
Employment effect (start)
27 July 2007
Foreseen end date
1 October 2007

Description

Euro-Auto Hose, a French automotive parts supplier based in Nevers, has been declared bankrupt and is to consequently make its 178 employees redundant. Redundancies will begin to be made immediately after the declaration of bankruptcy and will continue until the site is definitively closed on October 1st 2007. A receiver has been appointed and will be given responsibility for selling the site's machinery in order to re-pay some of the funds owed to creditors. The firm has experienced financial problems for the last few years and has also recently encountered problems with its shareholders. The firm is owned by Greencool, a Chinese group, and was previously owned by French tyre manufacturer Michelin.

Sources

  • 31 July 2007: La Croix
  • 30 July 2007: AFP
  • 1 July 2007: L'Expansion
  • 30 July 2007: Les Echos

Citation

Eurofound (2007), Euro-Auto Hose, Bankruptcy in France, factsheet number 65654, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65654.