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.
Vecari, a medium-sized family business specialised in the installation of cable, ground and gas connection for Eandis, Telenet and Belgacom filed for bankruptcy; 123 jobs are to be lost. As reported, the company was already loss-making for years.
In 2013, it was taken over by NV Jacobs and received €1 million investment support from the Flemish government. Still, the structural loss-making and the economic crisis pushed the company into bankruptcy. According to the sources, a court is expected to give a ruling in this case.
Eurofound (2014), Vecari, Bankruptcy in Belgium, factsheet number 77485, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77485.