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.
The Commercial Court of Lille has pronounced the judicial liquidation of the manufacturer of construction machinery cabins TIM, which employs 304 people at Quaëdypre (Nord). As the Court decided the liquidation without continuing activity, the 304 workers will be immediately dismissed. The only company that had for a time considered taking over the site and the activity, as well as 40 employees, had finally withdrawn its offer. The company, which was in serious financial difficulties, had been placed in receivership at the end of August. It had already escaped liquidation for the first time in July 2017, before being taken over by the German construction machinery company Atlas GMBH.
Employees expressed anger about this closure, ten of them (CGT and FO) announced that they had filed a complaint against against persons unknown for fraud.
A restructuring was announced in 2016, with 100 to 125 job cuts on a total of 636 employees.
Eurofound (2019), TIM, Bankruptcy in France, factsheet number 99173, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99173.