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.
Curtain retailer Montgomery Tomlinson has announced that all staff (530 people) employed by the company is to be made redundant. Administrator KPMG has thus far failed to find a buyer for the failing business.
The company collapsed into administration due to falling sales and having insufficient cash to meet its liabilities. The 146 staff based in a factory and warehouse near Broughton will be made redundant, and none will be paid wages for August.
In addition, 384 staff in departmenst stores and concessions will lose their jobs. KPMG has announced that it will assist employess in making claims to the redundancy payments office.
Eurofound (2013), Montgomery Tomlinson, Bankruptcy in United Kingdom, factsheet number 75786, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75786.