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.
Silva & Sistelo, a textile company which has operated for 55 years, has announced the loss of 150 jobs with the closure of its factory in Gondomar. The decline in orders and the difficulty to find financial partners to continue its business are the main reasons for the bankruptcy. The main creditors of the company are 4 banks and IAPMEI (Institute for the Support to Small and Medium Enterprises and Innovation).
Eurofound (2009), Silva & Sistelo, Bankruptcy in Portugal, factsheet number 67867, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67867.