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 Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
127 jobs Number of planned job losses
Announcement Date
23 March 2011
Employment effect (start)
23 March 2011
Foreseen end date
Description
Geminus, a Belgian manufacturer of electrical material, is facing bankruptcy and 127 jobs will be lost. The company has been in financial difficulties for four years.
The deadline to find a new buyer is 28th March but unions and management are sceptical. The Christian Union would like the region to invest again and become the principal shareholder but SOGEPA management already contradicts. They are allowed to invest only on the region demand.
Union are now seeking help from government to save the company via an employer group and the sector federation.
Sources
23 March 2011: La Libre
Citation
Eurofound (2011), Geminus, Bankruptcy in Belgium, factsheet number 71787, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71787.
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