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.
On 5 August 2009, the textile manufacturer Trevira announced to cut around 300 out of 1,760 jobs worldwide. After Trevira had filed for insolvency in June 2009, new investors took over the company. The sale affected its German production sites in Bobingen and Guben, the marketing & sales office in Hatterheim (Germany) as well as the Polish production site in Zielona Gora. Employment effect start or timeline for the current job reduction scheme were not announced.
The insolvency proceedings of Trevira will, however, continue. The insolvency administrator stated that it was currently not possible to tell for how long. Trevira was owned by the Indian Reliance Group before the sale. Further solutions for the two subsidiaries in Belgium and Denmark were still sought after.
Eurofound (2009), Trevira, Merger/Acquisition in World, factsheet number 69368, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69368.