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.
On May 2007, one of the largest and modern Ostrava-based meet processing plant was to cease the loss making production and to cancel 260 jobs from a total 780 (one third of the current workforce). The owner — Milkagro company- believed that a potential sale might avert imminent collapse. The main reason was the increasing meat import from abroad.
On 14 June 2007, the company declared bankruptcy and issued 213 redundancy notices.
Eurofound (2007), Masokombinát Martinov, Bankruptcy in Czechia, factsheet number 65326, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65326.