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.
Praxy, the new owner of the recycling company Bourbié, is to cut 121 out of 271 jobs. Praxy became the new owner of Bourbié after the commercial court of Clermont-Ferrand has announced that SAS Praxy Finances Group will buy the industrial waste recycling company Etablissements Bourbié. Praxy's restructuring plan envisages the loss of 105 jobs at the Issoire unit and 121 in total across the company. The CEO has announced that the employees affected will receive extra compensation.
The new owner intends to reinforce its presence in France by acquiring the five units located in Issoire, Gersat (Puy-de-Dôme), Besançon (Doubs), Cusset (Allier) and Etaples (Pas-de-Calais). The bankruptcy of Etablissements Bourbié was blamed on the global recession.
Eurofound (2009), Bourbié, Merger/Acquisition in France, factsheet number 69768, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69768.