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 30 June, the Commercial court in Marseilles announced the liquidation of the chocolate producer Net Cacao which employs 184 people. The plant could be bought by another company, but the only one interested has already announced it would only be able to subsume no more than one third of the workforce.
The company was a subsidiary of the group Nestlé until 2006, following a protracted 21 month long industrial dispute. Since then the company has belonged to Jean Chenal, who took Nestlé to court to terminate the commercial contract concluded between Neslté and Net Cacoa for a period of three years.
Since the end of 2010 the company has had to deal with the refusal of its bankers to provide access to further funds. The unions have contacted politicians at the local, regional and national levels to try to save the company.
Eurofound (2011), Net Cacao, Bankruptcy in France, factsheet number 72075, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72075.