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.
Cameron Mackintosh Ltd, the group of companies that produces shows and owns eight theatres in London’s West End has notified its staff that many of them will be made redundant. According to the trade union Bectu, 850 jobs will be cut: 185 at Cameron Mackintosh Ltd and 669 at one of its subsidiaries, Delfont Mackintosh Theatres.
A spokesperson for the group said they faced a 'thankless situation' caused by the COVID-19 pandemic. Theatres and performance spaces in the UK closed in March, and it is thought unlikely that they will fully reopen until 2021.
The trade union Bectu said it was shocking that Cameron Mackintosh was 'unwilling' to support their staff and make full use of the Coronavirus Job Retention Scheme, which will be running until October 2020.
The group owns and manages eight West End theatres, which have been restored and refurbished, and produces very successful musical theatre shows, including Cats, Les Misérables and Hamilton. The group of companies is owned by Sir Cameron Mackintosh, the successful producer.
Eurofound (2020), Cameron Mackintosh, Internal restructuring in United Kingdom, factsheet number 101914, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101914.