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.
Wagon Automotive, a company manufacturing car parts, is to cut 292 jobs at its site in Walsall. The company has announced that it is to close down the plant due to falling demand and increased competition from low cost car part makers. The company went into administration earlier this month and the cuts were decided after the administrators failed to find a buyer for the business. As of 19 December 2008 there is no information on when the job losses will occur.
Eurofound (2008), Wagon Automotive, Bankruptcy in United Kingdom, factsheet number 67687, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67687.