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.
Shipping firm Harkand has been forced to call in administrators resulting in the loss of 171 jobs. The company's activities service the oil and gas industry, providing repair and maintenance for subsea and dive support vessels. The downturn in the oil and gas industry has resulted in lower demand for the company's services. The job losses will come from two sites - the company's headquarters in London and its operations in Aberdeen, with 73 and 98 positions lost in each site respectively. 39 staff will be kept on at the two sites to assist with the wind-down of the business.
Eurofound (2016), Harkand, Bankruptcy in United Kingdom, factsheet number 87609, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87609.