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 18 July 2016, the German e-commerce company Unister Holding announced to file for insolvency to remain capable of acting after the death of its general manager Thomas Wagner. Unister Holding is an operating company mainly for online travel booking and has around 1,100 employees. Currently, the wages and salaries are secured as the Federal Employment Agency is paying insolvency money for employees.
On 29 July 2016, six subsidiaries of Unister Holding employing a total of 548 employees also filed for insolvency. Altogether, 889 jobs might be threatened by the insolvency. However, the insolvency administrator Prof. Dr. Lucas Flöther recently announced that booking figures are rising again and that there are about 20 potential buyers. The company is confident it will be able to retain as many employees as possible.
Eurofound (2016), Unister Holding, Bankruptcy in Germany, factsheet number 88394, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88394.