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.
Huis Clos, producer of PVC windows, has been liquidated with the consequent loss of 836 jobs. This follows a decision of the Rouen commercial court on October 17th.
The bankruptcy affects workers in 104 shops in France. Furthermore, Huis Clos’ subsidiary Isoplas Pro in Harfleur (Seine-Maritime) with 179 employees could also be affected in the wake of the closure.
According to the sources, the company came under financial pressure with sluggish demand for houses and a decreasing renovation market during the crisis. Worker representatives also claimed that company’s management had made strategic mistakes.
After the company had announced a job expansion in 2011, it was to cut 150 jobs in 2012.
Eurofound (2013), Huis Clos, Bankruptcy in France, factsheet number 76032, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76032.