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.
Gruppo Trombini, a group producing wood panels, is to close and dismiss about 420 workers at the plants in Codigoro (Ferrara), Frossasco (Torino), Luserna San Giovanni (Torino), Montelabbate (Pesaro) and Ravenna.
The firm has been using the short-time working scheme since 2009 and it has been under insolvency proceedings since 2013 with a view to restructuring its debt and finding new investors interested in purchasing the production sites. The employees at risk of losing their job are mainly blue-collar workers, whose short-time working allowances are to expire over the next months.
Unions are organising demonstrations to keep the attention of local authorities high on the situation. The management is confident to close negotiations with interested entrepreneurs and to pass employees over to new proprietors.
Update, 20/01/2015: Short-time working allowances have expired and the group has not succeeded in finding potential investors as yet. As a result, the plants are to cease production over the next days and all the workers are receiving notice of dismissal.
Eurofound (2014), Gruppo Trombini, Bankruptcy in Italy, factsheet number 91311, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91311.