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.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Fabricated Metal Products, Except Machinery And Equipment 25.61 - Treatment and coating of metals
150 jobs Number of planned job losses
Announcement Date
14 February 2017
Employment effect (start)
Foreseen end date
Description
The company Agalsa, specialised in galvanising metals, has requested to enter into a voluntary bankruptcy proceeding, due to its lack of capacity to re-structure its debt. The proceeding resulted in the announcement to the workforce that the company will dismiss all the 150 workers currently employed. Agalsa justified the current situation as the result of a financing problem.
According to the trade unions, the closure of Agalsa is the result of wrong management decisions. They also stress that workers have suffered delays in the payment of their wages during the last year. Lawyers representing the company argue that the company only owes two monthly wages to the workers.
Sources
14 February 2017: El Comercio
Citation
Eurofound (2017), Agalsa, Closure in Spain, factsheet number 90268, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90268.
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