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.
Magneton, a Czech producer of car accessories, has declared bankruptcy and all 400 employees are now facing an uncertain future. The company, located in Kroměříž, has been undergoing economic difficulties since the autumn of 2008. The management had already introduced a 4-day working week and had previously dismissed about 200 people due to a sharp decline of customer orders. Prior to restructuring, the company employed some 600 people and was one of the biggest employers in the region.
Eurofound (2009), Magneton, Bankruptcy in Czechia, factsheet number 69124, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69124.