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.
After undergoing internal restructuring since February 2011 (#mce_temp_url#), TBP Geel has finally declared bankruptcy and the Belgian site will close. Adding to the 120 jobs concerned by the previous internal restructuring, it is now the remaining workforce which is concerned. In total 337 jobs will be lost among them 220 blue collar workers and 117 white collar workers.
The unions and the curator hoped to find a buyer but remained unsuccessful. Redundant workers may appeal the company's closure funds.
Eurofound (2011), TBP, Bankruptcy in Belgium, factsheet number 72559, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72559.
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