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.
On 17 November, the commercial court of Vienne ruled for the liquidation of Soprano Industry in Vaulx-Milieu (Isère) that will lead to the loss of 140 jobs. The company specialised in thermodynamics in various areas (energy conversion, air distribution, mobile military hospitals, nuclear and aeronautics industries). The court denied the company from pursuing its activities. The CEO has announced to its employees the immediate closure of the site and asked them to take their personal belongings and to not come back to the plant. The day after, employees found the doors closed and their access badges deactivated. Since then, they have had no news from the CEO. Soprano Industry has accumulated losses since 2011, that without counting 2013, reached €2.9 million in 2014 for a turnover of €8.1 million (– 45%).
Eurofound (2015), Soprano Industry, Closure in France, factsheet number 85470, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85470.