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.
Cash transport company SecurCash has entered administration which will result in the loss of 160 jobs across the Netherlands. In early January, the company filed for bankruptcy, but the court rejected the application; the judge found that there were sufficient funds to pay creditors and the bankruptcy was not requested for the right reasons. However, later in January the company was declared bankrupt, as an attempt to restart the business went wrong. The administrators have announced that the business will continue to trade until 31 of January 2019. SecurCash faced intense competition and low margins; its financial problems became acute due to the owner’s decision not to close the company’s losses with debt financing.
Previous restructuring took place in 2017, when 140 jobs were lost.
Eurofound (2019), SecurCash, Bankruptcy in Netherlands, factsheet number 96495, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/96495.
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