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.
Stocznia Marynarki Wojennej, a shipyard in Gdynia, is to dismiss about 250 employees and will offer voluntary redundancy to another 100 workers. On 22 December 2009, the District Court in Gdansk announced the bankruptcy of the shipyard following negotiations between the shipyard's management and its creditors.
213 workers have already been given notice and another 30 or more will be dismissed in April 2010 leading to a total of at least 250 redundancies. A further 100 workers will be offered voluntary departure.
The shipyard, that employed around 1250 people before the bankruptcy, produces containers, product tankers, harbour tug boats, floating cranes and patrol crafts.
The bankruptcy was declared in order to achieve some agreement between the company and its creditors. This is an opportunity to pay off the debts of the company, abolish some debts or postpone maturity. No liquidator was appointed by the court but previous management remains in charge.
Eurofound (2009), Stocznia Marynarki Wojennej, Bankruptcy in Poland, factsheet number 69530, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69530.