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.
Young’s Seafood, a UK-based fish and seafood processor, has announced that it will close its subsidiary; the Pinney’s of Scotland seafood factory in Annan, Scotland. The phased closure will be completed by the end of 2018, making all 450 employees redundant. The production currently undertaken at Pinney’s will be moved to Young’s main site in Grimsby, in the north of England. The announcement came on 31st May, after a period of formal collective consultation between management, staff and their representatives about the proposed closure of the site. The representative of the trade union Unite Scotland said the closure of the plant at the end of a 45-day consultation was “extremely disappointing”.
According to a spokesperson, the company will continue to meet with employee representatives to discuss ongoing items such as redeployment opportunities and would start “one to one” consultations with affected employees.
Young’s Seafood employs 2500 people across the UK.
Eurofound (2018), Young's Seafood, Closure in United Kingdom, factsheet number 94208, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94208.