Spanish engineering group Duro Felguera has secured court approval for its restructuring plan, marking a significant milestone in its efforts to restore financial stability. The Commercial Court in Gijón dismissed all objections to the plan, allowing its effects to extend to all affected creditors, including those who opposed it, in accordance with Spanish restructuring law. The plan had already received the backing of the company's majority shareholders and creditors, as well as overwhelming shareholder approval at an Extraordinary General Meeting in November 2025. 

The restructuring comes after another difficult financial year, with net losses increasing to €89.3 million and revenue falling by almost 44% in 2025. While the company reduced its negative EBITDA, it continued to face the impact of provisions linked to major international projects in Romania, Morocco and Dubai. 

By restructuring its €980 million balance sheet, the company successfully avoids insolvency, protects local employment, and establishes a stabilized foundation for long-term growth.

More on this story at The Corner

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German furniture manufacturer Himolla Polstermöbel GmbH has entered ‘protective shield proceedings’, a court-supervised restructuring process designed to allow the company to reorganise while continuing operations. The application was filed with the court in Landshut on 26 June 2026.

The restructuring follows challenging market conditions, including weak consumer demand and falling sales. Tillmann Peeters of Falkensteg has been appointed restructuring manager, working alongside legal advisers and a provisional administrator to develop a restructuring plan aimed at stabilising the business and securing its long-term future.

Despite the proceedings, Himolla has confirmed that production at its international sites in Poland, Romania, Slovakia and Hungary will continue unaffected, and all customer orders will be fulfilled as planned, although the potential impact on jobs has yet to be determined.

Read more at Big Furniture Group

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Swedish appliance manufacturer Electrolux has announced it will close its factory in Jászberény, Hungary, by the end of 2026, with around 600 jobs affected. The site produces built-in and freestanding refrigeration products, and the decision forms part of the company's wider restructuring efforts to reduce costs. 

Electrolux said the move reflects a challenging competitive environment marked by stagnant market demand, sustained price pressure and rising constraints on cost competitiveness. The announcement highlights the continued pressure on European manufacturers to streamline operations and adapt production footprints in response to weaker demand and intensifying market competition. 

As a financial result, Electrolux will record a SEK 0.6 billion ($65.6 million) restructuring charge in the second quarter, of which SEK 0.3 billion is cash-related.

More on this story at Global Banking & Finance

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Small suppliers face losing at least 50% of the money owed to them by the 450-store high street chain TG Jones, formerly WH Smith, under a controversial restructuring plan. 

Bought last year for £76m by private equity firm Modella Capital, the loss-making retailer warns it will likely face administration if creditors do not approve the rescue deal. The plan completely wipes out debts owed to dozens of “exit contract” suppliers, including independent toy and greeting card makers, offering only a potential share of future profits in three years. 

Meanwhile, non-core suppliers will lose over half their money, with remaining balances delayed for three-and-a-half years and major suppliers will also face delayed payouts. Part of a wider turnaround involving a £35m investment, this proposal could also close up to 150 stores. 

More on this story at the Guardian

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German speciality chemicals company Evonik has announced a further restructuring programme that will see around 3,200 jobs cut globally between 2027 and 2029, alongside its planned exit from the polyester business. The announcement follows an earlier restructuring initiative that is expected to eliminate approximately 2,800 positions by the end of 2026. 

As reported in The Recycler, the latest measures reflect wider structural changes affecting industrial markets, where manufacturers are responding to weaker demand, rising costs and increasing international competition by simplifying operations and focusing on higher-value activities. 

Evonik is the latest example of a broader trend towards consolidation across Europe's industrial sector, with businesses reshaping portfolios and reducing costs to remain competitive in a challenging economic environment.

Read more at The Recycler

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