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.
Delaville, a subsidiary of the hotel chain InterContinental, is to close the luxury Hotel de la Ville in Rome, dismissing its 132 employees. The dismissals will affect as well about 70 workers in supplier companies.
The management explained the structure needs restructuring works that can no longer be postponed. An agreement for the continuation of the rental contract with the proprietor agency (Reale Mutua Assicurazioni) has not been reached. As a result, the hotel is to cease activities by the end of March and the proprietor will then implement the necessary works.
Workers have issued demonstrations deeming the decision unacceptable as the structure is generating relevant profits. Unions are trying to ensure job continuity for the redundant workers, also in the light of the likely reopening of the hotel after the restructuring. Yet, neither InterContinental nor Reale Mutua Assicurazioni stated their commitment to do so, and the latter has refused to take part in meetings with unions and local authorities.
Eurofound (2016), Delaville, Closure in Italy, factsheet number 91225, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91225.
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