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.
South Wales-based building and maintenance company, Contract Services, has begun the process of liquidation which will result in the loss of 102 jobs across the two sites in Port Talbot and Caerphilly. Liquidators were called in on 11 August 2017 and the company ceased trading. The firm will formally enter voluntary liquidation on 22 August 2017. Despite an agreement in principle with the Welsh Government, the business has been unable to raise sufficient resources to continue.
The company had been in business for 221 years and was an early adopter of the Living Wage.
Eurofound (2017), Contract Services, Bankruptcy in United Kingdom, factsheet number 91743, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91743.