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.
Bard Engineering GmbH, a leading developer of offshore wind farms, will finish the EU-sponsored construction of Germany's largest offshore wind farm 'Bard Offshore 1' in the North Sea in September 2013.
The company faces problems finding new investors to proceed with developing future new plants. This is why Bard will dismiss 120 workers currently employed on contracted ships.
Bard also announced that even more jobs are at risk, as private interests in investing in offshore wind power plants have been decreasing since public subsidies to the wind power energy sector were cut.
UPDATE 2013-11-26:
Bard announced to close down work in 2014 and make another 250 people redundant. The 300 remaining positions will be taken over by newly founded Offshore Wind Solutions.
Eurofound (2013), Bard, Closure in Germany, factsheet number 75789, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75789.