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.
The Commercial Court of Angers has announced the liquidation of the independent free advertisement newspaper publisher and deliverer Vendredi Media with 125 jobs cut.
According to the management the company was forced to close, because of financial difficulties caused by a social dispute. Background is that 17 employees with the support of CGT and unionists went on strike between October 2010 and January 2011 for better working conditions. They demanded the company to comply with the sectorial collective agreement.
The management said it did apply the collective agreement since January 1st, 2011, but this added new costs. This increase in costs as well as the court procedures forced the company to stop its activities.
Eurofound (2012), Vendredi Media, Bankruptcy in France, factsheet number 73231, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73231.