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.
Lithuanian-capital turkey processing company Arvi kalakutai is to dismiss 151 employees in Marijampole in 2021. Such information was provided by the Lithuanian Employment Service.
The main cause of the dismissals is the bankruptcy of the company that was announced by the Authority of Audit, Accounting, Property Valuation and Insolvency Management under the Ministry of Finance of the Republic of Lithuania on 28 January 2021. The company is currently undergoing bankruptcy procedures and has already handed out layoff notices to all 151 employees. Since November 2020, the company has been undergoing restructuring procedure, however, it was not successful.
Arvi Kalakutai was established in Marijampole in 2002. It was the only company in the Baltic States specialising in the processing and production of turkey. The company belongs to the Arvi group of enterprises uniting agricultural and food sector companies. The bankruptcy may also determine the closure of the company Rietavo veterinarine sanitarija, from the same group.
Eurofound (2021), Arvi kalakutai, Bankruptcy in Lithuania, factsheet number 103548, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103548.