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.
Dailycer, a leading producer of breakfast cereals, filed for insolvency which will lead to a total of 180 job losses in the plants of Tangermunde and Luneburg. The company, a supplier to major food retailers, made use of the German insolvency law reform (ESUG) in order to streamline its portfolio. The measure will result in 60 out of 330 positions being cut at the plant in Tangermünde and 120 out of 440 positions at Daliycer's headquarter in Lüneburg. Dailycer runs operations at seven locations in Germany, the Netherlands, Switzerland and Denmark.
The company reported that the reason for restructuring is growing prices of raw materials on the one hand and declining prices paid by the food retailers on the other hand.
Eurofound (2012), Dailycer, Bankruptcy in Germany, factsheet number 74131, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74131.