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.
Transportation / Storage Warehousing And Support Activities For Transportation, Postal And Courier Activities Warehousing And Support Activities For Transportation 52.24 - Cargo handling
500 jobs Number of planned job losses
Announcement Date
17 March 2011
Employment effect (start)
Foreseen end date
Description
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.
Sources
23 March 2011: Financial Times Deutschland
18 March 2011: Financial Times Deutschland
Citation
Eurofound (2011), Beluga Shipping, Bankruptcy in Germany, factsheet number 71758, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71758.
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