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.
Novasco, the French steel producer specialising in special steels, is undergoing a major restructuring te following the liquidation of three of its four sites and the loss of 549 jobs. In November 2025, the commercial court of Strasbourg approved a takeover offer by a consortium led by the French SME Métal Blanc, which only covers the Leffrinckoucke site. The restructuring affcts particularly the Hagondange site, with 450 job cuts.
Trade unions (CFDT, CGT and CFE-CGC) have strongly criticised the outcome, describing it as a major social and industrial setback, notably given the strategic importance of the Hagondange electric steel plant for low-carbon steel production. Following the decision, employee representatives and dismissed workers have initiated legal action against the company’s owner, Greybull Capital, accusing it of failing to meet its financial commitments.
Eurofound (2025), NovAsco, Bankruptcy in France, factsheet number 203671, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203671.