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.
Central Building Contractors, the Glasgow-based company that provided construction design, development and maintenance services across Scotland made 148 staff redundant with immediate effect as soon as it entered administration. The company’s remaining 11 employees are assisting the administrators.
A statement by the company says that cash flow problems caused by difficult trading conditions were exacerbated by the COVID-19 outbreak and the closure of building sites.
Central Building Contractors was founded in 1971 and is a highly-regarded business in Scotland.
Eurofound (2020), Central Building Contractors, Bankruptcy in United Kingdom, factsheet number 100612, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100612.