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 For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
85 jobs Number of planned job losses
Announcement Date
27 June 2017
Employment effect (start)
Foreseen end date
Description
Car parts supplier CovPress Assembly has announced that it is to cut 85 jobs as administrators continue to look for buyers for the ailing business. The company, based in Coventry, employs 350 workers and entered administration in April 2017. Redundancies were not announced at that time, though this has since proven necessary as administrators have been unable to find a buyer for the whole of the business. Of the 85 positions which will be cut, the company expects to be able to achieve 30 of the losses through voluntary severance.
Sources
27 June 2017: BBC Website
21 April 2017: Coventry Telegraph
Citation
Eurofound (2017), CovPress Assembly, Internal restructuring in United Kingdom, factsheet number 91413, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91413.
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