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.
Staff Collection, the textiles manufacturer, has announced its intention to invest EUR 2 million in opening of its fourth plant in Blaj (Arad County). The company operates the House of Art chain of stores, one of the biggest on the Romanian market. At present, the company has 2,500 employees, of whom 1,000 are working in the store network currently amounting to 50 outlets.
„We will invest EUR 300,000 in the first stage, which will be completed by the end of 2007. As a result, we intend to create initially 200 jobs. The total value of the investment could reach EUR 2 million”, Olivera Mihet, general manager of Staff Collection says. The investment will be located in Blaj on the site of a former factory, which was acquired by the company this year.
By the end of 2007, the company's representative estimates a total increase of 700 employees.
In the first nine months of the year, Staff Collection reported a turnover of RON 40 million (EUR 11 million), approximately a 10% increase compared to the same time in the last year.
Eurofound (2006), Staff Collection, Business expansion in Romania, factsheet number 64506, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64506.
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