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.
Textile manufacturer Santens will close its doors and will be taken over by Descamps. In February 2011, the company avoided bankruptcy by implementing an internal restructuring plan.
The takeover will not be without job losses. Around 283 workers are affected. Under these circumstances their contract will not be renewed. An extraordinary works council will be convened soon.
Eurofound (2011), Santens, Merger/Acquisition in Belgium, factsheet number 72408, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72408.