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.
Construction companies Walde Byggevare and Walde Entreprenør are filing for bankruptcy, resulting in 173 job losses. Both companies are located in Frekhaug (Hordaland) and subsidiaries of Walde group.
All of the 173 employees will be directly dismissed.
The companies came under financial pressure after a period of declining revenues. Walde Byggvare's shop has been closed, while Walde Entreprenør has stopped all of its activity.
Unions are optimistic about re-employment of the dismissed workers and expect that they will receive all of the outstanding salaries.
Eurofound (2013), Walde, Bankruptcy in Norway, factsheet number 76344, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/76344.