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 Rouen has accepted the takeover bid presented by the British company manager Suresh Radhakrishnan to buy the Remade company, specialising in the reconditioning of smartphones, and keep 118 employees out of the 375 that the company has. Among the current employees, 210 will be made redundant.
The company has been placed in receivership since November 28, 2019 with continued activity. The public prosecutor in Coutances has opened a preliminary investigation against unknown for false balance sheets and false invoices. A report by the expert accountant of the works council denounces a 'frantic race for size led by the creator and some of his associates, not to make it a flourishing group, but to quickly maximize its value by posting strong growth in turnover'.
Two previous recruitment announcements were announced in 2018 (200 job creations) and in 2014 (150 job creations).
Eurofound (2020), Remade, Merger/Acquisition in France, factsheet number 99655, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99655.