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