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.
Auld’s, the Scotland-based bakery, has announced that its retail business has gone into liquidation and the company has started consultations with 180 employees whose jobs are at risk. 8 shops closed in August, making 49 workers redundant with immediate effect. The liquidator has said that they are “working with local and national organisations to support those employees to process claims as quickly as possible”. The remaining 18 shops continue to trade while the administrators are trying to find buyers for the business.
Thomas Auld & Sons Limited was founded in 1900 and its head office is in Greenock, Central Scotland. The management of the company said that the liquidation will protect the manufacturing arm of Auld’s Group, safeguarding 200 jobs.
Eurofound (2018), Thomas Auld and Sons Limited, Bankruptcy in United Kingdom, factsheet number 94771, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94771.