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 Carluccio's has become another major business to enter into a company voluntary arrangement (CVA). The restructure deal, which has been approved by 91% of the business's creditors, will allow rent reductions in remaining sites. The restructure will result in the closure of 30 outlets with the loss of approximately 500 jobs. The company blames the market saturation as the key reason to the restructuring.
There is little information available as yet as to which sites will be closed or to what timescale, though some reports of individual restaurant closures have started to emerge.
Eurofound (2018), Carluccio's, Closure in United Kingdom, factsheet number 94418, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94418.