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.
According to statements of the Credit Protection Association of 1870 (Kreditschutzverband von 1870, KSV), the Wiedl company group located in St. Gertraud (Carinthia), was declared bankrupt on 23 October 2006. The company has accumulated debts totalling 3.6 million euro.
The Wiedl group consists of two business branches: Whereas the Wiedl Montagetechnik is specialised in assembling metal pipes and light-metal construction (employing 15 workers), the major business activities of the group are performed by the Wiedl Personalbereitstellung company which hires out agency workers and currently employs seven white-collar and 231 manual workers. Thus, altogether, 253 employees stand to lose their jobs. No more details have been reported to date.
Eurofound (2006), Wiedl, Bankruptcy in Austria, factsheet number 64360, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64360.