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.
Clothing manufacturer Courtaulds has entered administration and announced 350 redundancies. CUK which merged with Courtaulds in 2006 has also entered administration. The decision follows the news that major high street retailer BHS has entered administration; the two companies were major suppliers to BHS. Courtaulds is well known for manufacturing the 'Pretty Polly' brand of tights. Of the 350 job losses, 320 will come from the site in Belper, Derbyshire, four will come from Nottingham and 26 will come from the London site. Thirty staff will be kept on to fulfil remaining orders. The time scale for the job losses is not known.
Eurofound (2016), Courtaulds, Closure in United Kingdom, factsheet number 87861, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87861.