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.
SIF Transilvania, a hotel group based in Romania, is to close, resulting in job losses for 104 employees. The 104 announced lay offs will be across three hotels, located in Covasna in the Centre Region.
The reason for the closure is the intention of the company to temporarily close for renovation of the three hotels, an investment estimated at 40 million euros. Despite the temporary closure, the lay offs are permanent.
Eurofound (2009), SIF Transilvania, Closure in Romania, factsheet number 68055, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/68055.