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.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27.51 - Manufacture of electric domestic appliances
130 - 160 jobs Number of planned job losses
Announcement Date
20 July 2017
Employment effect (start)
Foreseen end date
Description
Edesa Industrial, manufacturer of electric domestic appliances, has announced an employment adjustment that will mean the dismissal of between 130 and 160 workers. The plan includes the closing of its plant in Arrasate. Edesa Industrial is under a ‘pre-insolvency procedure’. According to Edesa's management, the company can still be competitive but it must adjust its production lines, reduce its staff and obtain non-banking financing. Furthermore, Edesa requires an agreement on settling debt with creditors and another to restructure debt.
Edesa Industrial belongs to CNA group, which bought the shares of the previous Fagor Electrodomésticos.
Sources
20 July 2017: ABC
Citation
Eurofound (2017), Edesa Industrial, Internal restructuring in Spain, factsheet number 91671, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91671.
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