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.
Hawick clothing manufacturer Hawick Knitwear has entered administration with the immediate loss of 123 jobs. 56 jobs have been retained, but they too are expected to be cut if a buyer for the business cannot be found. No decision on the remaining jobs has yet been announced. The decision to appoint administrators follows many years of difficult trading for the company in the face of higher production costs and lower margins. It is reported that there have been several unsuccessful attempts to secure new investment for the business, which has operated in the town since 1874. The textile business has traditionally been an important employer in the borders, though this has come under increasing pressure over recent years.
Eurofound (2016), Hawick Knitwear, Bankruptcy in United Kingdom, factsheet number 86202, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86202.