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.
Derby based ready-meal manufacturer S&A Foods has entered administration and it is being reported that all 300 workers at the site will be made redundant. It is understood that 200 staff have already had their employment terminated. The company, which specialises in preparing Asian ready meals blamed its predicament on the loss of a major contract with the Supermarket chain Asda; a contract which had been held by the company for 28 years. The Unite union which is recognised at the site expressed frustration at the lack of information provided to them by management. The company owner stated that many different options and rescue packages had been explored, but the decision to appoint administrators was taken because no other option was felt to be viable. It is not known when the site will completely cease trading.
Eurofound (2015), S&A Foods, Closure in United Kingdom, factsheet number 85428, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85428.