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.
Manufacturing Manufacture Of Wood And Paper Materials Manufacture Of Wood And Of Products Of Wood And Cork, Except Furniture; Manufacture Of Articles Of Straw And Plaiting Materials 16.23 - Manufacture Of Other Builders' Carpentry And Joinery
125 jobs Number of planned job losses
Announcement Date
3 October 2023
Employment effect (start)
4 October 2023
Foreseen end date
25 October 2023
Description
The Paris Commercial Court has ordered the receivership of Unterland Metal (formerly Clestra Métal), which is specialised in the manufacture of office partitions, and the redundancy of its 125 employees by 24 October.
The employees had been engaged in a strike for almost three months and are in dispute with the Jestia group, which acquired Clestra Métal in 2022. Jestia had relocated the plant's activities from its 34,000m2 site, which was deemed to be oversized, to a 15,000m2 site. Trade unions estimates this project was a disguised redundancy plan.
Management attributed the liquidation to the adverse impact of the strike on its cash flow, which caused a 65% loss in sales. For its part, the trade union CGT intends to initiate a legal action against Jestia, whose management is accused of having 'in the space of a few months moved premises, changed Clestra's historic name and stripped the company of its content and assets'.
Eurofound (2023), Unterland Metal, Bankruptcy in France, factsheet number 200424, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200424.
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