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.
Tiercé Franco-Belge, a horse-races gambling company, was declared bankrupt and announced the loss of 190 jobs across the country. The society had accumulated large debts from the national organisation for social security and from the VAT department. The horse-races gambling sector faces increased competition from gambling games on the internet and is suffering from the high costs of the regional tax applied to the companies in the sector.
Eurofound (2008), Tiercé Franco-Belge, Bankruptcy in Belgium, factsheet number 67908, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67908.