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.
Car parts supplier CovPress Assembly has announced that it is to cut 85 jobs after going into administration. Administrators continue to look for buyers for the ailing business. The company, based in Coventry, employs 350 workers and entered administration in April 2017. Redundancies were not announced at that time, though this has since proven necessary as administrators have been unable to find a buyer for the whole of the business. Of the 85 positions which will be cut, the company expects to be able to achieve 30 of the losses through voluntary severance.
Eurofound (2017), CovPress Assembly, Bankruptcy in United Kingdom, factsheet number 91413, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91413.