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.
Following operational and liquidity issues, vehicle Rental Company TOM has gone into administration and will close with the loss of all 428 jobs. The business is based in Airdrie, North Lanarkshire and has eleven sites across England and Scotland. The company has confirmed that 342 redundancies have been made with immediate effect. Eighty-six employees will be kept on at the Airdrie head office for approximately a further four weeks in order to help with the wind down of the company. The leader of the Scottish Labour Party called on the Scottish Government to put in place plans to help the affected workers.
Eurofound (2018), TOM Vehicle Rental, Bankruptcy in United Kingdom, factsheet number 94004, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94004.