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 Foreign Press Distribution Agency, the principal distributor of foreign press in Greece, has suspended its operation with the loss of 120 jobs. According to various Greek media the Foreign Press Distribution Agency announced Wednesday May 28th 2014 the suspension of its operation after 29 years and asked the press stores owned by the company to proceed with liquidation of their assets. The reason for the bankruptcy is the agency’s debts to the IKA (state’s social security organization) and towards its suppliers worth nearly 0.75 million euros and 3.5 million euros respectively.
Eurofound (2014), Foreign Press Distribution Agency, Bankruptcy in Greece, factsheet number 77104, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77104.