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Poundland announces major restructuring with store closures and job cuts

Last week Poundland announced a major restructuring which involves extensive store closures and job losses. The budget retailer is embarking on a significant turnaround plan, including the closure of…

Solar panel maker Meyer Burger’s German subsidiaries file for insolvency

Swiss solar panel manufacturer Meyer Burger Technology's German subsidiaries, Meyer Burger (Industries) and Meyer Burger (Germany), have filed for insolvency after unsuccessful restructuring efforts.…

Frasers nears control of distressed Norwegian sports giant

Frasers Group is nearing a takeover of troubled Norwegian sportswear retailer XXL ASA, having secured over 92% of its share capital and 90% of voting shares. Despite this, Frasers has issued stark warnings,…

German insurtech to cut around 20% of its workforce in Germany

Clark, the German insurtech, is cutting around 20% of its workforce in Germany, primarily in the IT departments at its Berlin and Frankfurt offices. These layoffs, announced in late May, are described…

News

Surge in bankruptcy auctions hits Dutch plastic recycling sector
The Dutch plastic recycling sector is facing a sharp rise in bankruptcies, with auction house Troostwijk Auctions reporting a 150% increase in related auctions, compared to the previous year. This surge is attributed to high production costs, regulatory uncertainty, and increasing international competition, particularly from cheap virgin plastic imports from the US and China. Low demand for circular products has further exacerbated the situation.
Notable insolvencies include the Dutch branch of Danish artificial turf recycler Re-Match, despite prior government subsidies. Other companies like Umincorp, PVC Recycling Lelystad, and Stiphout Plastics also collapsed in late 2024. Experts warn that without new measures, such as restricting virgin plastic imports and enforcing stricter blending requirements, the Netherlands' circular economy ambitions are at risk. Setting up circular businesses proves challenging due to heavy investments and complex logistics.
 
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