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.
GlobeGround, a company whose business is to ensure the registration of passengers luggage in the name of two airline companies at Zaventem airport, filed for bankruptcy. For several months, the handling company had tried to acquire a licence to provide services on the tarmac. The access being reserved to two competitors (BGS and Aviapartner), management of the airport denied the request. GlobeGround could therefore only deal with luggage within the airport facilities whereas its competitors worked both in the airport and on the tarmac, a strategic position which proved to be more attractive. As a result of the bankruptcy, 170 employees are to lose their job. On 30 April 2005, an agreement was reached between GlobeGround and BGS which offered to reemploy 40 dismissed employees on a part-time basis.
Eurofound (2005), GlobeGround, Bankruptcy in Belgium, factsheet number 61668, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/61668.
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