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.
Bowater Home Improvements, a Norfolk-based plastic windows and doors factory was taken over and closed down with the loss of 400 jobs. Administrators acting on behalf of the company sold the Zenith and Staybrite windows brands to Weatherseal Group Ltd. Bowater's head office and factory in Norwich, 30 sales offices and six installation centres will close immediately.
Reports suggest that the firm going into administration and the subsequent closures are due to tough competition and a fall in orders. Prior to the closures staff had been working four day weeks and were aware of the companies difficulties. However some workers were shocked by the announcement of the closure as the fact that it was a possibility had not been communicated to them.
Eurofound (2008), Bowater Home Improvements, Closure in United Kingdom, factsheet number 66187, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66187.