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.
Warrens Bakery, the UK-based pastie manufacturer and retailer, has announced a restructuring with a loss of 150 jobs. A pastie factory in St Just, in the south west of England will be closed, with the 45-day redundancy consultations already underway. In addition, the company closed 22 of its shops on 28 November, only a few days after the restructuring announcement was made. The number of retail staff affected by the immediate redundancies is unknown.
The CEO of the company said that the factory was ‘no longer economically viable’ and added that the restructuring was necessary because of ‘continued Brexit uncertainty’.
An earlier phase of restructuring took place in summer 2019, when 66 employees were made redundant from head office, manufacturing and distribution roles.
Warrens Bakery was founded in 1860 and it famous for making Cornish pasties, a regional specialty, which enjoys European protected status.
Eurofound (2019), Warrens Bakery, Closure in United Kingdom, factsheet number 99249, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99249.