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 Wood And Paper Materials Manufacture Of Paper And Paper Products 17.12 - Manufacture of paper and paperboard
117 jobs Number of planned job losses
Announcement Date
12 September 2012
Employment effect (start)
17 September 2012
Foreseen end date
24 September 2012
Description
The Commercial court of Epinal has approved the liquidation of the paper manufacturer Souche Papers and the dismissal of 117 employees.
The liquidation may constitute the end point of a long process of restructuring. In December 2010 the company previously named ‘Papeterie de la Souche’ was liquidated by a decision from the Commercial Court of Epinal. As a result, 168 workers lost their jobs. In April 2011, the company was reopened as ‘Souche Papers’ under the initiative of 120 former employees and resumed its activities (see factsheet).
It is reported that although the company has a high level of demand for its products, the operation failed due to a lack of finances.
Sources
11 September 2012: Usine Nouvelle
Citation
Eurofound (2012), Souche Papers, Bankruptcy in France, factsheet number 74133, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74133.
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