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.
Softex, one of the leading Greek paper producers, has announced the closure of its site in Attiki with the loss of 200 jobs.
According to Greek media sources, Softex Administration announced on Thursday 14th January 2016, via telephone to its workers, the closure of its plant in Attiki (Botanikos) as the company never managed to recover from a fire last July that destroyed a part of the plant.
The Greek Ministry of Employment denounced Bolton Group's decision to close, apparently due to low compensation received from insurance companies following the fire, and announced its intention to exhaust all legal means for the Softex plant to continue operating.
Softex (Athens Paper mill) began paper production in the 1970s and in 2002 was bought out by the Bolton Group, an Italian-headquartered multinational consumer goods company.
Eurofound (2016), Softex, Closure in Greece, factsheet number 86156, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/86156.