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.
As announced on 30 April 2021 the German paper manufacturer Zanders will be closing its plant in Bergisch Gladbach which will result in the loss of 380 jobs. Zanders announced insolvency in March 2021. Since no investor was found, operations ceased on 30 April 2021. Mayor of Bergisch Gladbach announced that he will be consulting with works’ council, management and insolvency experts in order to find adequate solutions for all employees - among others the possible set up of a transfer agency.
Eurofound (2021), Zanders, Bankruptcy in Germany, factsheet number 104800, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/104800.