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.
Stauffenberg, a German wholesale bakery, has become insolvent and as a result will dismiss its remaining 226 employees. A total of 140 full-time positions as well as 20 temporary agency workers will be made redundant at the company's site in Gelsenkirchen. In addition, between 80 and 100 staff will be made redundant in Daun.
Stauffenberg provides discounters with bakery products but has had financial problems for a year. In November 2014, the company’s biggest costumer Aldi cancelled its contracts with Stauffenberg. Moreover, no investor could be found.
Insolvency proceedings will start in February 2015. Meanwhile, 50 employees will stay with the company until summer to see to few remaining orders.
Eurofound (2015), Stauffenberg, Bankruptcy in Germany, factsheet number 78251, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78251.