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.
The Commercial court of Chalon-sur-Saône (Saône-et-Loire) has decided the liquidation of Nordeon, a fluorescent lamp manufacturer based in Chalon-sur-Saôn with 146 employees. The court also decided the liquidation of its subsidiary Marvell Glass, specialised in Led lamp. Both had been placed in receivership on 2 March 2017. About 100 of employees have demonstrated in the front of the Commercial court to obtain that the court postpones its decision, but they failed as the court wanted to decide quickly in regard of the losses accumulated by the companies. Nordeon was created in 2012 when the Dutch investment fund Varova took over the site from the Dutch multinational Philips Lighting. The company lost €4 million in 2016 for a turnover of €29 million. Its shareholders refused to further invest in the company.
Eurofound (2017), Nordéon, Bankruptcy in France, factsheet number 90787, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90787.