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.
Roger Vanden Berghe, a carpet production plant in Beveren-Leie, has filed for bankruptcy. All 144 employees will be dismissed. The main reason for the closure is a lack of orders. According to company management the purchase of interior textiles is sensitive to general economic instabilities as people tend to postpone the purchase of these types of goods in conditions of financial uncertainty. Other textile companies within the region have recently declared bankruptcy as well: Escolys (65 jobs lost) & Tansens & Casaert (23). All three producers have been in existence for at least 50 years. Other factors cited in the closure include Brexit - UK sales have declined - as well as the declining value of the Turkish lira which has made Turkish producers more competitive.
Eurofound (2018), Roger Vanden Berghe, Bankruptcy in Belgium, factsheet number 95687, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/95687.