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.
Restaurant chain Prezzo has announced plans to close around one third of its UK outlets which is expected to result in the loss of 500 jobs. The restructure has been agreed through a Company Voluntary Agreement (CVA) whereby creditors allow the insolvent business to keep trading. The deal means that 94 of around 300 sites in the UK will close, with the closures expected to take place during April and May 2018. The deal will also see rent reductions for 57 sites for the coming two years.
Eurofound (2018), Prezzo, Closure in United Kingdom, factsheet number 93906, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93906.