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.
Plewa, a manufacturer of chimneys, announced on 10 March 2008 that it had filed for insolvency. 145 jobs at Plewa’s headquarter in Speicher (Rhineland-Palatinate) as well at its Bavarian production site in Klardorf are to lose their jobs. Plewa employs a total of approximately 250 employees. The insolvency administrator stated that due to the abolition of the public home owner allowance the sales volume of Plewa dwindled drastically. The home owner allowance was a public subsidy scheme granted to people who wanted to buy apartments or houses in Germany. The subsidy scheme expired on 1 January 2006. In the aftermath, many house building companies announced a drop in sales.
Eurofound (2008), Plewa, Closure in Germany, factsheet number 66394, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66394.