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.
Furniture maker Ultra Furniture has entered administration following the loss of a major supermarket contract. The business, which is based on the Pensnett Trading Estate in Dudley, employs 160 staff and has been operating for more than thirty years. Following the loss of the contract with Tesco Direct, the employers decided to close the business and the administrators were appointed two weeks later. The administrators have said that they will continue to seek a sale of the business, but that it does not look hopeful and that there is no possibility of the business continuing to trade as things stand.
Eurofound (2018), Ultra Furniture, Bankruptcy in United Kingdom, factsheet number 94472, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94472.