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.
The Elwo electrolytes factory (Fabryka Elektrolitów "Elwo") of Pszczyna, a member of the Rafaco corporate group, applied for bankruptcy in January 2009. Elwo has suffered financial exposure pursuant to leveraged foreign exchange options which it had contracted with four banks (Millenium, Fortis Bank, Pekao and ING Bank Śląski) before the recent fluctuations in the currency market. Its 400 workers stand to lose their jobs.
Eurofound (2009), Fabryka Elektrolitów, Bankruptcy in Poland, factsheet number 68227, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68227.