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.
Seafood company Young's has announced the closure of its factory in Hull, with the loss of 203 jobs. Young's said it was closing its chilled food plant in Gillett Street after a review of its manufacturing facilities. Production is being moved to the firm's headquarters in Grimsby. Young's said Hull staff would be offered the chance to take 125 jobs being created there. Young's chief executive Wynne Griffiths said: 'Unfortunately, neither the production facilities or staff amenities at Gillett Street are up to the standard of the rest of our operations and the cost of correcting these issues is prohibitive.' Mark Pearson, who has worked at the factory for three years, said: 'I'm absolutely devastated, like everybody else here.' 'You have couples here, partners, people who have been here 20 years, so it's like a whole family out of work.' Education secretary Alan Johnson, who is MP for Hull West and Hessle, said he was seeking a meeting with Young's to discuss the closure. He said: 'This is another blow for jobs and manufacturing in Hull.' 'Our first priority must be to help the workforce and I have already spoken to the GMB union about extending the help available to the Gillett Street site if we fail to persuade the company to change its mind.'
Eurofound (2007), Young's Bluecrest Seafood, Relocation in United Kingdom, factsheet number 64849, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64849.
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