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.
Prado Tuft, which manufactures carpets and rugs, is set to close its production site located in Kuurne, and lay off 182 employees. Prado Tuft is a subsidiary of the associated weavers international that holds several textile manufacturers in Belgium. The end of 2008 saw several restructuring processes and closures in the textile sector, which is severely affected by a decrease in demand and an increase in production costs.
For more information, see EIRO report.
The Belgian authorites applied for aid from the European Globalisation Adjustment Fund (EGF).
Eurofound (2008), Prado Tuft, Closure in Belgium, factsheet number 67903, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67903.
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