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.
Sheffield based printers Polestar has announced that it is to close with a total loss of over 600 jobs. The firm originally entered administration in April 2016 and in early May confirmed that it would be making 65 staff redundant. Then there was a subsequent briefing in late May to confirm that the remaining 548 staff would be made redundant. Staff are understood to have been paid up until the end of May. Some staff will stay on to assist with dismantling equipment. A spokesperson for the administrators PWC, said that the decision to close the plant had come after attempts to secure a buyer had proved fruitless.
Eurofound (2016), Polestar, Closure in United Kingdom, factsheet number 87639, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87639.