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.
As announced on 29 January 2021, the German airport Paderborn-Lippstadt will be cutting 105 jobs following the insolvency. Creditors of the insolvent airport agreed to the restructuring plan, which will reduce the airport’s passenger capacity from 700,000 to 300,000 per year. While a large proportion of affected employees have already left or been provided with other jobs, a transfer company will be set up for the remaining employees affected by the restructuring. Paderborn-Lippstadt Airport announced insolvency in September 2020 due to the high losses related to the COVID-19 crisis. The insolvency proceedings are expected to finish in March or April 2021.
Eurofound (2021), Flughafen Paderborn-Lippstadt, Bankruptcy in Germany, factsheet number 103483, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/103483.