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.
VLM, a Belgian airline that operates mainly from the airport at Deurne, has declared bankruptcy. Because of this a total of 160 employees are facing direct dismissal. The main reasons behind the closure are the accumulation of previous debts by the company and a significant increase in costs. A mixture of white- and blue collar workers will lose their job as a result of the bankruptcy. For the moment the main focus of the unions is making sure all employees receive wages earned in recent months.
Eurofound (2016), Vlaamse Luchttransportmaatschappij, Bankruptcy in Belgium, factsheet number 87970, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87970.