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.
On the 9th of January, ferry company SeaFrance went into liquidation leading to the job loss of its entire workforce - about 1000 people. Some 880 jobs will be lost in France (see here) and 127 jobs are threatened in Dover, UK.
The company's service between Dover and Calais has been suspended since November 2011. A potential bailout from the French government was ruled illegal by the European Commission; an offer from a cooperative of SeaFrance employees was also deemed unacceptable by the French Tribunal de Commerce.
The possibility that Eurotunnel, the company which manages and operates the Channel Tunnel between Britain and France, will make a bid for SeaFrance has not been ruled out yet.
Eurofound (2012), SeaFrance, Bankruptcy in European Union, factsheet number 72934, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72934.
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