Type
Bankruptcy
Country
Belgium
Region
Location of affected unit(s)
Sector
Arts / Entertainment
Arts, Entertainment And Culture
Gambling And Betting Activities
92 - Gambling and betting activities

190 jobs
Number of planned job losses
Job loss
Announcement Date
27 October 2008
Employment effect (start)
27 October 2008
Foreseen end date
30 November 2008

Description

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.


Sources

  • 27 October 2008: Le Soir

Citation

Eurofound (2008), Tiercé Franco-Belge, Bankruptcy in Belgium, factsheet number 67908, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67908.