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.
In late 2019, the Slovak-based shoe producer Botex Company closed its plant in Rimavská Sobota, where about 140 employees became redundant. The company was active in Rimavska Sobota for more than 26 years and produced about 50,000 pairs of trainers per month. It operated well and made an annual profit of €210,000 and €250,000 in the last two years. In October 2019 a member of company's management board informed that the Italian owner sold the company to German Tecnica and the Botex needs new orders from customers otherwise it will be closed. According to the Botex CEO, the production will be offshored to Serbia due to cost optimisation concerns.
Eurofound (2020), Botex, Offshoring/Delocalisation in Slovakia, factsheet number 99764, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99764.