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.
The Villeroy & Boch group has announced the closure of its V&B Fliessen plant located in La Ferté-Gaucher (Seine-et-Marne). The factory, which is specialised in manufacturing of high-quality ceramic tiles for kitchens and bathrooms, employs 127 people. The 113 production employees will be dismissed in October 2019. The sales team (14 people) would be retained. Negotiations are underway with the trade unions to negotiate an agreed method to organise the consultation period over the next three months, and a draft agreement on social measures.
The management explains that the company faced a net loss of €10 million in 2018 due to a very competitive market, where volumes are falling and prices are being pushed down. These reasons (lower prices, lower volumes, erosion of margins, lack of growth prospects) forced the group to announce the restructuring.
The mayor of La Ferté-Gaucher, is concerned about the consequences of this closure on the municipality of 4,800 inhabitants; the factory has been there since 1968 when Villeroy & Boch employed 1,200 people. The factory has been the driving force that allowed the expansion of the town for fifty years.
Eurofound (2019), V&B Fliesen, Closure in France, factsheet number 97997, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97997.
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