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.
Owen Pugh, the construction company based in North East England, has announced that it has entered administration and will be making 257 employees redundant. The business's failure has been attributed to cash flow problems following some loss making projects. Most parts of the business will cease trading, though 30 staff operating Marsden Quarry near Sunderland are being kept on whilst a buyer is sought for that part of the company. Nine staff at the head office are being retained, in the short term, to assist the administrators.
Eurofound (2017), Owen Pugh, Closure in United Kingdom, factsheet number 92333, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/92333.