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.
It was announced in December last 2008 that Cork-based supplier of ready-made meals, Swissco, was to close with the loss of all 150 jobs before Christmas. The company had gone into liquidation after being in examinership for three months. Upon hearing the news, Swissco workers conducted a sit-in at the plant, protesting that they were being laid-off without adequate notice or consultation. A spokesperson for the company commented that the closure was unavoidable after it went into liquidation.
Swissco has been operating in Cork since 1974 and is owned by UK company International Cuisine, which specialise in ready-made meals/processed foods for the retail and wholesale sectors. Business has been badly affected by the global economic downturn.
Eurofound (2008), Swissco, Closure in Ireland, factsheet number 67145, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67145.