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 the 13th of February the Commercial court of Aix-en-Provence has decided to liquidate SafeTIC, which will lead to the dismissal of its 270 employees. This is the result of the court's decision to refuse the take-over offer proposed by Butler Capital Partners.
SafeTIC was active in the European market of applied innovative technologies for corporate security. The company was present in 13 European countries (France, Belgium, Germany, Spain, Netherlands, United Kingdom, Czech Republic, Portugal, Ireland, Italy, Switzerland, Luxembourg and Austria) and in the United States.
The liquidation will currently only affected the French part of the company and not yet other European subsidiaries.
Eurofound (2012), SafeTIC, Bankruptcy in France, factsheet number 73276, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73276.