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 9 May 2016, pastry maker Fricopan, subsidiary of the Swiss Aryzta AG, announced plans to shut down its German site in Immekath (Klötze) by the end of August 2016. The closure will entail the loss of all 500 jobs at the plant. According to the company, the closure has become necessary due to ongoing weak demand and the poor traffic connection of the site. Politicians are angered as Fricopan has been financially supported by the State of Saxony-Anhalt in order to invest in the plant.
Aryzta, headquartered in Zurich, currently employs 10,000 employees worldwide.
Eurofound (2016), Fricopan, Closure in Germany, factsheet number 87525, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87525.