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.
Azuvi, the ceramic tile manufacturer in Vila-real, which has declared bankruptcy proceedings under voluntary arrangement with creditors, through the receivership administrators has proposed to the company's Works Council a redundancy procedure that will represent the loss of 197 work posts, maintaining another 78 employees under temporary lay-off conditions. Sources from the Independent Union have explained that the current staff stands at 278 employees, thus if the company's proposal is accepted, 81 workers would remain. If the temporary lay-off requested for 78 workers also receives approval, the workers that would remain at the factory during the nine-month period will only be three.
Finally, in March 2010 the company announced its closure and dismissed all the remaining workers.
Eurofound (2009), Azuvi, Bankruptcy in Spain, factsheet number 69317, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69317.