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 largest hotel in Belgium - the Sheraton Brussels - has announced its closure due to the bankruptcy of its operating company, Swedish-owned SBH SPRL. The hotel employs 200 people. The hotel has 500 rooms over 30 floors, has been in existence since 1973 but has suffered from a recent decline in tourism following the terrorist attacks in Paris and Brussels. Trade union representatives have said that lack of investment and bad management are the main reasons for the closure.
Eurofound (2016), Sheraton Brussels, Bankruptcy in Belgium, factsheet number 90312, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90312.