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.
Iconic black cab maker Manganese Bronze has gone into administration and made 156 staff redundant with immediate effect. Both the head office and manufacturing site in Coventry are being affected by the job losses, as are plants across the UK.
A combination of poor sales, high warranty costs, accounting errors and a recall of over 400 vehicles as a result of a steering fault have been blamed for the failure of the company.
Eurofound (2012), Manganese Bronze, Internal restructuring in United Kingdom, factsheet number 74441, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74441.