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.
Manufacturing Manufacturing Of Furniture And Other Manufacturing Manufacture Of Furniture 31.09 - Manufacture Of Other Furniture
161 jobs Number of planned job losses
Announcement Date
11 August 2023
Employment effect (start)
11 August 2023
Foreseen end date
31 December 2023
Description
The Lithuanian company S-Form, a manufacturer of soft furniture based in Alytus, has announced 161 redundancies due to bankruptcy.
The notification of the intended redundancies was received by the Employment Service on 01. August 2023. S-Form was declared bankrupt on 01. July 2023. One of the main reasons for the company's insolvency is the downturn of the trading market in Germany. According to the company's representatives, the main S-Form customer was a German retail and manufacturing chain which was in the process of going bankrupt in Germany. S-Form was established in 2004.
Eurofound (2023), S-form, Bankruptcy in Lithuania, factsheet number 109344, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/109344.
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