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.
The Commercial court of Lille has decided to liquidate the private security company ARES-Sécurité, which currently employs 137 individuals. A take-over was expected but it failed, resulting in court's decision to liquidate the company. The employees were informed by Email on the 27 July and will receive their official dismissal letter during the first week of August. All employees are entitled to join scheme Carrer Path Security Contract (contrat de sécuritsation professionnelle). If the company does not meet the criteria to provide for reemployment leave, a Career Path Security Contract has to be put in place entitling workers to personalised support measures (e.g. training, help in business start-up). The workers receive compensation equal to a percentage of their former wage for one year. Furthermore, if the company is facing serious difficulties (for instance bankruptcy), the government may intervene via the national employment fund, which is aimed at workers' redeployment.
Eurofound (2016), Arès Securité, Bankruptcy in France, factsheet number 88285, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88285.