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.
The Commercial Court of Lille has deciced the liquidation of Jean Caby, an industrial sausages company specialised in the manufacture of cocktail sausages. The site of Saint-André-lez-Lille, near Lille, will close, and the 232 employees will be dismissed.
Previously the court had considered a takeover offer, which had not received support from any of the protagonists. Since 2012, Jean Caby belongs to the American company Foxlease food. Jean Caby was placed in bankruptcy in December 2017 for six months to allow time to find a buyer. According to Les Echos, the factory was obsolete. Jean Caby was the leader in the cokctail sausage market with a full order book, but the site was losing money for every sausage produced, according to the manager, who wanted to build a brand new production site nearby to restore the company's competitiveness. Two former restructuring were recorded in the ERM Database, in 2014 (120 job cuts) and 2009 (350 job cuts and 120 recruitments).
Eurofound (2018), Jean Caby, Bankruptcy in France, factsheet number 94455, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/94455.
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