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.
Triumph Furniture, a furniture manufacturer based in Merthyr Tydfil, Wales, has announced 239 direct dismissals due to bankruptcy. 13 remaining positions will be kept on in the short term to help in processing the administrative requirements of the bankruptcy. The company operates since 1946 and is a major local employer; it has attributed the current situation to a collapse in orders, especially public sector orders, over the previous ten weeks and to the political uncertainty around Brexit.
The works council of the company will make effort to help the affected employees to find new positions by organising recruitment events.
Eurofound (2019), Triumph Furniture, Bankruptcy in United Kingdom, factsheet number 98867, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98867.