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.
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13 - Manufacture of textiles
137 jobs Number of planned job losses
Announcement Date
29 December 2008
Employment effect (start)
1 January 2009
Foreseen end date
31 December 2009
Description
The Commercial Court of Paris has announced that it accepted the plan of takeover of the manufacturer of embroidery thread DMC SA, a subsidiary of DMC (Dollfus Mieg et Cie), by the French consultancy Bernard Krief Consulting. This takeover will preserve a total 245 jobs in France and will cut 137 jobs in 2009.
For two years, it will be forbidden for the buyer to make redundancies.
The CEO wishes to ‘multiply by four sales of the group in ten years’ and said that the ‘strategy is to make DMC SA a leading global textile brand.’ The group has had problems for several years with the competition from Asia and a decline in demand caused by the economic crisis.
Eurofound (2008), DMC, Merger/Acquisition in France, factsheet number 67748, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67748.
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