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 Guimarães Court has declared the insolvency of Cottonsmile - a company of the Polopiqué textile group. 137 workers will be affected by this process.
In addition to unpaid wages and holiday allowance, these workers have yet to receive severance payments. Although they have been given the necessary documents to apply for unemployment benefits, the insolvency administrator – who is also managing the Special Revitalisation Plan (PER) for two other companies within the same group – has informed them that, for now, the outstanding payments will not be made. This dual role played by the administrator has raised concerns among the workers regarding the impartiality of the process.
The group faces debts exceeding €66 million.
Eurofound (2025), Cottonsmile , Bankruptcy in Portugal, factsheet number 203322, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/203322.
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