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 3 October 2012, management of Belgian group Beaulieu announced the closure of its site Ideal Fibres by Petite-Synthe, which manufactures synthetic yarn for rugs and carpets. 115 employees will be made redundant.
Out of 115 jobs threatened, only a third of the workforce, 36 employees would be relocated within the group. The management explains it has to deal with strong competition from countries in the Middle East, including Turkey and Saudi Arabia. In 2009, the Belgian group had already closed two production units employing 344 people.
Eurofound (2012), Ideal Fibres & Fabrics Dunkerque, Bankruptcy in France, factsheet number 74259, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/74259.