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.
Bhagat Holdings has announced that it has acquired the former Pinneys site in Annan, Dumfries and Galloway and will be creating 120 new jobs. The company is involved in the processing of frozen food; specifically it adds breadcrumbs to products for food supply companies such as Brakes.
The closure of the site, which was owned by frozen food giant Young's, in 2018resulted in the loss of 450 jobs, so the new jobs represent a fraction of the previous losses, though there are hopes that in time more jobs could be added. The new jobs are being supported by a grant of 1.7 million GBP (€1.98 million) from the Scottish Government and it is hoped that production will restart at the site in September 2019.
Politicians have reacted to the news positively with members of the Scottish Government and local councillors alike suggesting that the news is positive for the economy of South West Scotland. The unite union's response was more cautious and urged the business to allow trade union representation at the plant.
Eurofound (2019), Bhagat Holdings , Business expansion in United Kingdom, factsheet number 97378, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/97378.
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