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.
LB-Hus, a Swedish manufacturer of MMC timber frame homes, has given redundancy notices to around 200 employees in Bromölla due to bankruptcy. The company had undergone internal restructuring (see here) in 2011 and less than a month ago LB-Hus was granted a debt restructuring procedure. The restructuring was found unsuccessful and now the company has filed for bankruptcy.
It is reported that the bankruptcy is related to a general negative trend in the housing market, which has gone down by about 80 percent since 2007.
It is possible that some of the redundant workers will be rehired, in case the company finds a buyer.
Eurofound (2012), LB-Hus, Bankruptcy in Sweden, factsheet number 73102, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73102.