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.
Norwich Theatre Group, the British not for profit organisation which runs three theatre performance venues in Norwich, England, has announced a restructuring programme, leading up to 113 permanent jobs (53% of the workforce) being cut. In addition, 59 people employed on irregular zero hours contracts will no longer be asked to work for the theatre group. The redundancy consultation with affected staff has already started.
A representative of the theatre said the COVID-19 lockdown had caused the theatre to lose 95% of its income and it was unlikely that any large-scale production would be staged until 2021. The theatre’s chief executive criticised the UK government for 'standing idle' as the entertainment industry collapsed.
To cope with the current difficulties, the Group has started a crisis appeal, asking for donations, arguing that for every month the venues are closed the charity loses £100,000 (€111,000 as at 4 August 2020) on staffing, building maintenance and other ongoing costs.
The Norwich Theatre Group runs the Theatre Royal, the Playhouse and Stage Two in Norwich. It is one of the largest arts organisations in the UK, with an average number of yearly visitors around 450,000.
Eurofound (2020), Norwich Theatre Group, Internal restructuring in United Kingdom, factsheet number 101420, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101420.