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.
Singer, a North American multinational manufacturer of sewing machines, will close all its electrical appliances stores in Portugal, resulting in the dismissal of 130 employees. The company's management justified the measure with the lack of financial partners. Unitil recently, Singer had nearly 30 stores in Portugal. Some of these have already been sold, others remain open, but workers have not been paid since June. Singer's future will be decided after the court appointment of the insolvency administrator.
Eurofound (2009), Singer, Bankruptcy in Portugal, factsheet number 69470, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69470.