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.
Renolit, a company specializing in seals and furnitures fo the graphics sector, announced its intention to close the business and therefore cut 136 jobs in Belgium.
According to the Renolit management, the decision is due to the company's economic problems, the costs of raw materials and high competition within the sector. It is reported that the decision of the closure has been a surprise to the unions, who expected Renolit would file for bankruptcy instead.
Eurofound (2012), Renolit, Closure in Belgium, factsheet number 73754, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73754.