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.
Model railway set manufacturer Märklin announced its plans to streamline its manufacturing process in order to save costs.
The company is planning to cut 310 jobs and close two out of four manufacturing plants in Germany. The site in Sonneberg, Thuringia (220 employees, not all to be dismissed) shall be closed; the unit in Nuremberg, Bavaria, where 60 workers will be dismissed, is going to focus on development only. At the company's headquarter in Göppingen, 60 manufacturing and administrative jobs will be cut. Manufacturing, which will be partially outsourced, will be concentrated in Göppingen, Bavaria, and at Märklin's plant in Györ, Hungary.
Family-owned German model railway set manufacturer Märklin faced bankruptcy when in 2006 a manager of US-based restructuring specialist Alix Partner was appointed to manage the restructuring process. The firm was sold to British equity firm Kingsbridge Capital. The Märklin case is said to be a testcase of how the business model of anglo-saxon equity firms relates to German family-owned firms ('Mittelstand').
Eurofound (2007), Märklin, Internal restructuring in Germany, factsheet number 64758, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64758.