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.
Algrange (Moselle), Noyelles- Godault (Pas-de-Calais) and Vaux-en-Velin (Rhône)
Sector
Construction Specialised Construction Activities Specialised Construction Activities 43.1 - Demolition and site preparation
240 jobs Number of planned job losses
Announcement Date
15 October 2008
Employment effect (start)
15 October 2008
Foreseen end date
15 October 2008
Description
Stips TI, a demolition and wrecking of buildings company, has announced its bankruptcy with the loss of 240 jobs in Algrange (Moselle), Noyelles- Godault (Pas-de-Calais) and Vaux-en-Velin (Rhône). The company was declared in bankruptcy, resulting in the loss of 240 jobs in France. According to the trade unions, errors in management caused the bankruptcy. Stips TI was placed in compulsory administration in summer 2008 and consequently has to dismay the overall workforce.
Eurofound (2008), Stips TI, Bankruptcy in France, factsheet number 67251, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67251.
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