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.
Furniture manufacturing company Havelock International, based in Kirkcaldy, has entered administration and issued redundancy notices to 247 employees out of around 300. According to reports, a small number of employees will be retained while the company winds down operations, even though their future remains unclear. It is unclear whether the redundancies have taken place with immediate effect. In any case, the administrators have confirmed that it is their priority to ensure that redundancy claims are properly processed.
Union GMB Scotland has questioned how the company could get into this position without warnings to or consultations with the workforce. The union has as well argued that there are the conditions to avoid these redundancies by selling the company to willing buyers.
Eurofound (2019), Havelock International, Bankruptcy in United Kingdom, factsheet number 98248, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98248.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
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