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.
Instal Rzeszów, a construction contractor with worldwide outreach, was in liquidation in 2004; 800 employees have received end of contract notices. Instal Rzeszów's difficulties were brought about by poor management by the Second National Investment Fund; Instal Rzeszów became insolvent, and was deeply indebted towards its business partners, the social insurance institution, and the tax authorities.
In 2005, Instal's liquidator hired half of the previous workforce, as new orders were obtained. Most of the people got one-year employment contracts. The company will be put on sale on the turn of February and March 2005.
Eurofound (2004), Instal Rzeszów, Bankruptcy in Poland, factsheet number 60769, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60769.