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.
Coindu, a Portuguese producer of car seat covers and decorative surface parts, will close its factory in Arcos de Valdevez (North Portugal) by the end of December 2024.
This closure will affect 350 workers. According to the sector trade union, the closure was executed without any consultation or dissemination of information to the workers.
This closure happens one month after the Italian Mastrotto Group secured a majority stake in Coindu through a capital contribution aimed at bolstering the business's relaunch.
Founded in 1988, Coindu has factories in the North Portugal, employing a total of 2,000 workers.
Eurofound (2024), Coindu - Unit in Arcos de Valdevez, Closure in Portugal, factsheet number 202104, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202104.