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.
Patisserie Valerie, the chain of cafes has entered administration. At present the total number of job losses is uncertain, though closures have started and 920 employees have been made redundant. The chain employed 2,800 staff when it entered administration on 22 January 2019, when negotiations with its creditors broke down. The next day the administrators announced that 71 branches would close with immediate effect with the loss of 920 jobs. The remaining 122 branches will continue to trade as normal. The business's collapse is related to apparent fraudulent activity in its accounting processes. The collapse has led to questions of the auditors who allegedly failed to spot the fraud and signed off the company's accounts. A buyer is being sought for the firm.
Eurofound (2019), Patisserie Valerie, Bankruptcy in United Kingdom, factsheet number 96672, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/96672.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
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Since 2013, Eurofound's ERM database on restructuring-related legislation has been documenting regulatory developments in the Member States of the European Union and Norway which are explicitly or implicitly linked to anticipating and managing change. The most recent update to the...
