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.
Garden supplies wholesaler Solus has announced that it will cut 91 jobs across the UK. According to the source, the company was placed into administration a week before the job cuts were announced. The company was in financial difficulty following the loss of a contract to distribute the Miracle-Gro brand of fertilisers and plant feed.
The source notes that the company employed 250 people at various sites across the UK. 24 jobs will be cut at the head office at Hunnington, 32 jobs will be cut at Droitwich, 16 at West Bromwich, two at Tipton, 13 at Norwich and four at Edinburgh. The administers are consulting with the workers who are being made redundant to ensure their receive their redundancy and other payments. A timeframe for the redundancies is not yet available.
Eurofound (2014), Solus, Bankruptcy in United Kingdom, factsheet number 77107, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77107.