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.
Manufacturer of metal products, FILL Metallbau, with headquarters in Schärding (Upper Austria) has declared insolvency which will affect 100 out of 180 employees. The company has been bankrupt for nine months, but still kept up operations. According to newspaper reports, FILL Metallbau's current offer is highly unlikely to be accepted by creditors. Overall debts amount to €40 million, but the company expects to have some liquidity by December after the completion of construction projects in Germany, amongst others.
Experts consider it to be highly unlikely that after downscaling FILL Metallbau will be able to service its debts.
Eurofound (2018), FILL Metallbau Schärding, Bankruptcy in Austria, factsheet number 94158, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94158.