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.
Edesa Industrial, manufacturer of electric domestic appliances, has announced an employment adjustment that will mean the dismissal of between 130 and 160 workers. The plan includes the closing of its plant in Arrasate. Edesa Industrial is under a ‘pre-insolvency procedure’. The production of calentadores will be transfer from the Arrasate plant to the Basauri plant,
According to Edesa's management, the company can still be competitive but it must adjust its production lines, reduce its staff and obtain non-banking financing. Furthermore, Edesa requires an agreement on settling debt with creditors and another to restructure debt.
Edesa Industrial belongs to CNA group, which bought the shares of the previous Fagor Electrodomésticos.
Eurofound (2017), Edesa Industrial, Closure in Spain, factsheet number 91671, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91671.