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.
Šohaj Strážnice, one of the leading Czech textile companies, went bankrupt. All 200 employees were transferred to a company named Košulenka, whose owner is a former director of the bankrupt company. The case is under suspicion of tunnelling (fraud), because the management of the public utility is suspected to have illegally transferred the property to its own business. The future of all employees is uncertain because the agreement concluded between the company Košulenka and the main customer will expire at the end of November 2006.
Eurofound (2006), Šohaj Strážnice, Bankruptcy in Czechia, factsheet number 63644, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63644.