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.
Viridor, the British recycling and waste management company has confirmed that it will close its waste electrical and electronic equipment (WEEE) reprocessing facility in St Helens, in north west England, making 100 jobs redundant.
A spokesperson for Viridor said that the redundancy consultation with the affected workers had already started.
Viridor has the UK’s largest network of recycling and energy recovery facilities with a waste collection service. It is one of two WEEELABEX accredited recycling facilities in the UK. A recycling plant operated by Viridor (in Perth) could increase its capacity to recycle WEEE. The closure could lead to difficulties for the refrigerator reprocessing industry.
In a press release, Viridor announced that the company has recently been acquired by KKR, global investment firm for £4.2 billion (approximately €4.6 billion as at 24 July 2020).
Eurofound (2020), Viridor, Closure in United Kingdom, factsheet number 101316, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/101316.