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.
Dutch kitchens decoration company Tulp Keukens in Rijssen, eastern Netherlands, has filed for bankruptcy. The court is expected to declare the company bankrupt and appoint a receiver on 6 July , 2005. Tulp Keukens, which has 13 stores in Netherlands, is owned by Keukengroep Beheer. Tulp Keukens, employing 180, faced financial difficulties due to the shrinking of the kitchen decoration market, which was attributed to the general slowdown of Dutch economy. The company carried out a series of cost-cutting programmes in the last years, but it could not avoid bankruptcy after its turnover decreased significantly in 2004 and the beginning of 2005.
Eurofound (2005), Tulp Keukens, Bankruptcy in Netherlands, factsheet number 62011, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62011.