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 17 March 2011, the shipping company Beluga Shipping filed for insolvency. Already a day before, Beluga Shipping's affiliate Beluga Catering had done the same. On 23 March 2011, the Financial Times Deutschland reported that other affiliates had filed for insolvency, such as the Beluga Sea Academy and the Beluga Fleet Management. The Beluga group employs over 500 employees in Bremen. The company suffered from a decline in orders during the global financial and economic crisis. The insolvency administrator stated on 17 March 2011 that he thought that the business may still survive.
Eurofound (2011), Beluga Shipping, Bankruptcy in Germany, factsheet number 71758, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71758.