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.
Portuguese construction company Soares da Costa is to dismiss 272 workers in Portugal. The management has attributed the restructuring to lack of work. Reportedly 272 workers had been inactive for several months. Although the company will continue to be operational in Portugal's civil engineering and public works markets, it will mainly focus on Angola, Mozambique and African market.
The company is partly controlled (66.7%) by the Angolan entrepreneur António Mosquito. The company is currently negotiating a loan of about 80 million euros (to be ensured by Angolan capital) to support its restructuring process.
Eurofound (2015), Soares da Costa, Internal restructuring in Portugal, factsheet number 83606, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/83606.