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.
Mazal Global Solutions, a private tax collection agency, has announced 126 redundancies.
The company, which is based in Milan and has offices in many Italian regions, work on behalf of more than 400 Italian municipalities and employs 396 workers. Following the prosecution of its managers for bankruptcy and embezzlement, and the declaration of the state of insolvency by the Court of Milan, the company has been put under extraordinary administration by the Ministry of Economic Development.
The Commissioner has opened a collective dismissal procedure and issued an open call for expressions of interest for the sale of the business.
Unions are worried about the company liquidity problems due to the previous management and asked for protecting workers also by activating social shock absorbers.
Eurofound (2016), Mazal Global Solutions, Bankruptcy in Italy, factsheet number 88829, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/88829.