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 textile producer Kunert, located in Rankweil in Vorarlberg, will close down two of its four production units by spring 2006 at the latest. The restructuring was announced by the firm's CEO, Jürgen Schäper, on 26 August 2005. Accordingly, the branches ‘full-fashioned stocking' and ‘yarn' with altogether 237 workers will be completely abandoned. The quoted grounds for the closure are massive upward price movements for energy and raw materials, world-wide excess production and import pressure from far-east. In the future, the company will exclusively focus its production on the branches ‘dyeing and finishing' as well as ‘jersey-materials'. First talks about the implementation of a social plan have been initiated.
Eurofound (2005), Kunert Rankweil, Internal restructuring in Austria, factsheet number 62242, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/62242.
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