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 Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13 - Manufacture of textiles
100 jobs Number of planned job losses
Announcement Date
23 June 2004
Employment effect (start)
Foreseen end date
Description
The company founded in 1947 by Nino Cerruti, now part of the Fin.part group, is experiencing a deep crisis. Besides the restructuring plan, it has also been announced that the company will be leased to the Tombolini group for one year, in an attempt to relaunch the Cerruti brand. The Fin.part group is also facing financial problems, with losses of some € 150 million and a bond issue expiring in July 2004 for € 200 million.
Sources
23 June 2004: Il corriere della sera
Citation
Eurofound (2004), Nino Cerruti, Internal restructuring in Italy, factsheet number 60419, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60419.
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