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 Brest has given its green light to the take over of poultry slaughterhouse Tilly-Sabco by the Dutch group Wegdam Foof Link. About 134 employees of a total of 195 will be dismissed. Tilly-Sabco was placed in receivership since July 2016. The new owner promised to keep 61 employees. In 2014, Tilly-Sabco was taken over by three owners : the British company MS Food, the investment fund Breizh Algae Invest (Olmix) and the Chamber of Commerce of Morlaix. Their offer, which received the support of the works council and the staff, maintained 202 positions of a total workforce of 320 employees; 118 employees were dismissed. As reported then, the financial difficulties of Tilly-Sabco started when the European Commission decided to stop supporting, through a yearly financial help of about €55 million, exportation of frozen chicken outside the EU. But the consortium failed to develop the site. The new owners expect to hire 25 more people as it focusses its activity on sausages production. The poultry activity will stop. In the 80', the site employed about 800 people. The 134 dismissed employees will receive their dismissal letter at the beginning of January.
Eurofound (2016), Tilly-Sabco, Merger/Acquisition in France, factsheet number 89685, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89685.
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