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.
United States, France, Netherlands, Luxembourg, Mexico
Sector
Manufacturing Manufacturing Of Furniture And Other Manufacturing Manufacture Of Furniture 31.0 - Manufacture of furniture
176 jobs Number of planned job losses
Announcement Date
14 November 2018
Employment effect (start)
19 November 2018
Foreseen end date
31 December 2018
Description
The Commercial Court of Lyon has decided the liquidation of the furniture manufacturer Grange located at Saint-Symphorien-sur-Coise (Rhone). The court did not receive a sufficiently strong takeover bid. In France where 106 people were employed, the shareholder, the American group Middleby, has opened a negotiation on the dismissal allowance to be paid to employees, beyond the amount of compensation provided by law.
The company was created in 1904. Despite the financial support of local authorities in France, in ten years, its turnover was divided by four and decreased to €12 million in 2017 for losses greater than €15 million. Grange employed 176 employees, 106 in France and 70 abroad, mainly in its shops in the United States, Mexico, Luxembourg, Netherlands and Poland.
Sources
Citation
Eurofound (2018), Grange, Bankruptcy in World, factsheet number 95855, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/95855.
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