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 Dax has decided the liquidation of the veneer sheets and wood-based panels manufacturer Darbo in Linxe (Landes). The 130 employees will be dismissed. The plant that belonged to Portuguese group Sonae, has been taken over in 2015 by an investment fund, Gramax Capital. The fund took the commitment to avoid the placement of the company in receivership until 2017 and to maintain the employment level. But the plant continued to make face to losses and the owner refused to reinvest more in the company. The owner received no support from the bank and couldn’t find a new take over to sell the plant. The company faces a sharp competition in the sector against Eastern Europe companies that have lower production costs. The local authorities (The region of Aquitaine) will try to find out what the company did with the EUR 250,000 of subsidy received in 2015.
Eurofound (2016), Darbo, Bankruptcy in France, factsheet number 88953, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88953.
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