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.
Manufacturing Repair And Installation Of Machinery And Equipment Repair And Installation Of Machinery And Equipment 33.20 - Installation of industrial machinery and equipment
130 jobs Number of planned job losses
Announcement Date
19 August 2014
Employment effect (start)
19 August 2014
Foreseen end date
Description
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.
Sources
20 August 2014: De Tijd
20 August 2014: La Libre
Citation
Eurofound (2014), Vecari, Bankruptcy in Belgium, factsheet number 77485, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77485.
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