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.
The traditional hosiery manufacturer Ergee, headquartered in Schrems in Lower Austria, which currently employs 123 white-collar workers and 74 manual workers, is about to be completely closed down. After the company had filed for bankruptcy on 30 October 2008, the official receiver responsible for this case lodged the bankruptcy petition at the regional court of Krems on 10 November 2008. Since no potential buyer of the heavily indebted enterprise could be found, the immediate closure would be inevitable, a spokesperson of the court stated. In former times, Ergee was one of the leading manufacturers of socks, stockings and accessories for ladies, gents and children.
Eurofound (2008), Ergee, Bankruptcy in Austria, factsheet number 67366, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67366.