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.
Construction Construction Of Buildings And Infrastructure Engineering Construction Of Buildings 41 - Construction Of Buildings
103 jobs Number of planned job losses
Announcement Date
5 March 2024
Employment effect (start)
5 March 2024
Foreseen end date
Description
Based in Colmar-Berg in Luxembourg, Carvalho Construction générales is one of the largest construction companies in Luxembourg. The company builds every type of construction (e.g., offices, houses). In February 2024, the company declared insolvency and dismissed in consequence more than 100 employees. A social plan has not been reported.
The reason behind the recent wave of insolvencies in Luxembourg's construction sector have remained unclear and not studied. The motivations behind the Carvalho case are mainly based on a recent dramatic increase of costs for the company (energy, employee and material costs).
Eurofound (2024), Carvalho Construction générales, Bankruptcy in Luxembourg, factsheet number 201200, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201200.
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