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.
Cesi, a large construction cooperative based in Imola and operating mainly in Northern Italy, is to dismiss 214 employees.
The company has been under insolvency proceeding since July 2014 due to its large debts towards banks and suppliers. Its headcount sharply shrank since then, from about 400 workers to the remaining 232.
The liquidator is now to shut down the cooperative and sell its assets. The workers are to leave the company on 7 January 2017 and will receive the ordinary unemployment benefits.
Unions took part in negotiations without reaching an agreement with the liquidator. Unions asked also public authorities and cooperatives’ organisations to issue a table addressing jointly the condition of crisis of local construction cooperatives.
Eurofound (2015), CESI, Bankruptcy in Italy, factsheet number 91224, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91224.