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.
AERO, a Slovenian producer of self-adhesive products operating in Savinjska region, declared bankruptcy earlier this month and all 155 workers were laid off. Company’s sales revenues decreased from 27.8 million euro in 2009 to 10.6 million euro in 2014. Last year the company had 7.7 million euro of net loss.
The Bank Assets Management Company (DUTB), Probanka and Post Bank Sloveni - majority shareholders after converting their receivables into capital assets - refused company’s restructuring plan and the request for a liquidity loan of 1.5 million euro, therefore bankruptcy was the only option left.
With more than 65 years of experience in the field of adhesives and coatings, AERO was a well-known trademark in the region and it exported three quarters of their products to foreign markets. Its subsidiary social enterprise AERO IDA, which employs 44 workers, will continue the production of adhesive tapes, watercolours and other products.
Eurofound (2015), AERO, Bankruptcy in Slovenia, factsheet number 79186, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/79186.
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