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.
Spin-Group, a carpet and rugs manufacturer in Belgium, has been declared bankrupt, leading to the redundancy of 293 people. Spin-group was severely affected by the crisis of the textile sector caused by decreasing demand. This crisis has led to numerous restructuring and closures among textile manufacturers in Flanders.
For more information, see EIRO report.
Eurofound (2008), Spin-Group, Bankruptcy in Belgium, factsheet number 67907, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67907.
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