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 10 October 2012, the Commercial court of Nanterre has decided the liquidation of Thomson Angers SAS (350 employees) the last production plant in France of the French creative content company Technicolor (Thomson).
Placed in receivership last June, the company has not found a buyer. The Court decided the liquidation and 350 employees, mainly women over 50 years old, will lose their job. The 350 jobs are under threat as Technicolor has lost an important contract with France Télécom.
Two groups were interested to take the plant over, but both plans failed. The city of Angers and the region Pays de la Loire made efforts to save the plant, with one of the former potential buyers, Eolane, planning to turn the plant into a manufacturer of photovoltaic products.
On 17 October, the unions and the liquidator announced that they are going to court against the mother company Technicolor. They want to force the group to pay 30 million euro to finance the social plan, as the closed subsidiary does not have enough funds to finance the dismissals. The first employees will receive the dismissal letter on the 26 October.
Eurofound (2012), Thomson Angers SAS, Bankruptcy in France, factsheet number 74307, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/74307.
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