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.
The Commercial court of Brest has given its green light to the take over of poultry slaughterhouse Tilly-Sabco by three owners : the British company MS Food, the investment fund Breizh Algae Invest (Olmix) and the Chamber of Commerce of Morlaix. Their offer, which received the support of the works council and the staff, will keep 202 positions of a total workforce of 320 employees; 118 employees will be dismissed. The financial difficulies of Tilly-Sabco started when the European Commission decided to stop supporting, through a yearly financial help of about 55 m euro, exportation of frozen chicken outside the EU. The new owners expect to increase the quality of poultry by feeding them with algae derived foodstuffs. The poultry farms that work for Tilly-Sabco will be invited to use the new foodstuff to avoid use of antibiotics. The aim is to develop a concept of “healthy poultry” to increase export levels to the Middle-East and Asia.
In December 2006, Tilly-Sabco cut 125 positions from a total workforce of 457 employees.
Eurofound (2014), Tilly Sabco Bretagne, Merger/Acquisition in France, factsheet number 78027, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78027.
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