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.
Next-day delivery company Aspray Transport announced the closure of its site in Willenhall, which would be effective from 16 August 2019 with the loss of all 192 jobs. In April 2019, the company was subject to a Company Voluntary Agreement to manage debts with its creditors, following its takeover by the Bushell Investment Group the previous month. The company blamed increasing fuel prices, adverse market conditions and uncertainties linked to Brexit as reasons for the decision to close the site. Other companies from Aspray Group, which are responsible for logistics and warehousing departments of the group, will not be affected and will operate as before.
Staff are reported to have expected the closure of Aspray Transport, even though the pace at which it happened has surprised many.
Eurofound (2019), Aspray Transport, Closure in United Kingdom, factsheet number 98355, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/98355.