Stips TI

Type
Bankruptcy
Country
France
Region
Location of affected unit(s)
Algrange (Moselle), Noyelles-Godault (Pas-de-Calais), Vaux-en-Velin (Rhône)
Sector
Construction
43 - Specialised construction activities
43.1 - Demolition and site preparation
43.1 - Demolition and site preparation
240 jobs
Number of planned job losses
Job loss
Announcement Date
15 October 2008
Employment effect (start)
15 October 2008
Foreseen end date
15 October 2008

Description

Stips TI, a demolition and wrecking of buildings company, has announced its bankruptcy with the loss of 240 jobs in Algrange (Moselle), Noyelles- Godault (Pas-de-Calais) and Vaux-en-Velin (Rhône). The company was declared in bankruptcy, resulting in the loss of 240 jobs in France. According to the trade unions, errors in management caused the bankruptcy. Stips TI was placed in compulsory administration in summer 2008 and consequently has to dismay the overall workforce.

Sources

  • 20 October 2008: Les Echos
  • 23 October 2008: L'Humanité Dimanche
  • 20 October 2008: La Tribune
  • 17 October 2008: Usine Nouvelle (www.usinenouvelle.com)

Citation

Eurofound (2008), Stips TI, Bankruptcy in France, factsheet number 67251, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67251.