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.
Budget hotel chain Travelodge has announced it will invest £115m on opening 26 new hotels this year, creating 500 jobs across all levels. It has stated it will continue to target the longterm unemployed for recruitment. The new properties will be in areas such as Edinburgh, London, Aberdeen, Chichester, Colwyn Bay and Morecambe. An extra 2000 rooms will be created, taking Travelodge's UK portfolio to more than 400 properties and 30,000 rooms.
Travelodge chief executive Grant Hearn said "The prevailing economic climate has accelerated the forecasted structural change of the hotel market as consumers have chosen low-cost, quality accommodation rather than overpriced full-service and mid-market establishments."
No details were given on numbers currently employed by the company or the date by which these job creations are expected to be completed.
Eurofound (2010), Travelodge, Business expansion in United Kingdom, factsheet number 70064, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/70064.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
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