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.
Private company Linerel in Tartu, Estonia, closed down its bread bakery, which resulted in 122 employees losing their jobs. Employees were notified on 17th of January that the bakery is to be closed down due to suspended funding. The note circulated among employees stated that the management had no choice but to file bankrupty as the joint efforts of company's managers to restore funding did not work. All 122 employees of the bakery will be collectively made redundant from 3 March 2014 onwards. Estonian Unemployment Insurance Fund confirmed that the company has contacted them and that their team is already handling the situation with redundancies, however, it is not clear what will happen to the employees until 3 March 2014, i.e. the acknowledged day of the closure.
Eurofound (2014), OÜ Linerel, Bankruptcy in Estonia, factsheet number 76548, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76548.
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