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.
Steuler Fliesengruppe, a German tile manufacturer, announced the filing for insolvency in July 2023.
In October 2023, it was announced that the Panaria Group (Italy) would acquire the Leisnig plant, while Norddeutsche Solar Ceramics, a subsidiary of Meta Wolf, would take over the Bremerhaven site. The Mühlacker plant is to be closed, resulting in the loss of 120 jobs.
The insolvency was driven by a sharp downturn in construction activity, triggered by rising interest rates that increased the cost of financing real-estate projects and led to a significant decline in the company's revenues.
Steuler Fliesengruppe most recently employed around 650 people.
Eurofound (2023), Steuler Fliesengruppe, Bankruptcy in Germany, factsheet number 300734, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/300734.
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