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 26 September, insolvent German manufacturer of windows and doors Moderne Bauelemente TFA announced to cut 170 out of 220 positions. The company will lose its biggest buyer Hornbach and which is the reason stated for the job reduction. According to the management, a maximum of 50 employees will be kept to organise few outstanding orders.
Moderne Bauelemente TFA suffered from bankruptcies of the big do-it-yourself stores Praktiker and Max Bahr. In the past year, the company has run a turnover of 22 Million Euros which meant a decrease of 25p.c.
Eurofound (2014), Moderne Bauelemente TFA, Internal restructuring in Germany, factsheet number 77723, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77723.