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.
On 11 September 2012 the construction company Hydrobudowa filed for bankruptcy. As a consequence all 1137 workers will be dismissed.
The cause of bankruptcy is the financial situation of the company, with the amount of debt adding up to around PLN800 million. Hydrobudowa, like many Polish construction companies, has faced financial difficulties due to the decline in the construction sector in Poland. The company has failed to reach an agreement with its creditors,or with parent company PBG.
Eurofound (2012), Hydrobudowa, Bankruptcy in Poland, factsheet number 74360, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74360.