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.
VLM, a Belgian airline that operates mainly from the airport at Deurne, has declared bankruptcy. Because of this a total of 160 employees are facing direct dismissal. The main reasons behind the closure are the accumulation of previous debts by the company and a significant increase in costs. A mixture of white- and blue collar workers will lose their job as a result of the bankruptcy. For the moment the main focus of the unions is making sure all employees receive wages earned in recent months.
Sources
22 June 2016: De Morgen
23 June 2016: De Standaard
23 June 2016: De Tijd
Citation
Eurofound (2016), Vlaamse Luchttransportmaatschappij, Bankruptcy in Belgium, factsheet number 87970, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/87970.
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