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.
Burntisland Fabrication (BiFab), which builds large equipment for the oil and gas industry and platforms for offshore wind turbines and tidal generators, will make 140 employees redundant by Christmas. The yard located in Arnish on Isle of Lewis will run out of work and there are no new contracts secured. The announcement of the redundancies comes only a week after a financial package had saved BiFab from falling into administration. The financial agreement was facilitated by the the Scottish government. The company faced serious financial difficulties following a dispute with its key customers.
Neil Campbell, the general manager of the yard in Arnish said that some workers, such as welders, will remain employed until the end of the year, “but most of the workforce face being out of work by Christmas” and “there is no work on the horizon on the current scale. Keith Brown, Scotland’s Cabinet Secretary for Economy, Jobs and Fair Work said: “The Scottish government’s focus is to secure the long-term position of the company.”
Eurofound (2017), Burntisland Fabrication (BiFab), Internal restructuring in United Kingdom, factsheet number 92634, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/92634.
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