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.
On 07 November 2023, the German ironworks and component manufacturer Eisenwerk Hasenclever has filed for insolvency, leading to the loss of 840 jobs.
The company was negatively impacted by the consumer reluctance and delivery problems in the automotive industry. The local court has appointed an insolvency administrator who is now taking stock of the company's situation. The local employment agency has already agreed to pay the "insolvency benefits" to affected employees.
Eisenwerk Hasenclever mainly manufactures components for the automotive industry. The company has been in the region for 250 years.
Eurofound (2023), Eisenwerk Hasenclever, Bankruptcy in Germany, factsheet number 200517, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200517.