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.
Transportation / Storage Land, Water And Air Transportation Land Transport And Transport Via Pipelines 49.41 - Freight Transport By Road
423 jobs Number of planned job losses
Announcement Date
27 September 2024
Employment effect (start)
27 September 2024
Foreseen end date
31 December 2024
Description
On 27 September, the management of Integre Trans, a logistics and transport company seeking restructuring, announced that it was initiating bankruptcy proceedings. On 27 September the company had 423 employees.
According to the company's representatives, Integre Trans activities in 2023 have become unprofitable due to increased competition, increased costs - fuel, vehicles, tolls, interest and wage costs - as well as the difficult German and French markets. The deterioration was also due to internal reasons. As the company experienced financial difficulties, creditors started to file claims, notices of termination of contracts and initiate proceedings to recover debts. Due to that situation in June 2024 company applied to the court in order to initiate the restructuring. However unreasonably prolonged legal proceedings on restructuring have led to its insolvency and loss of viability.
The company, registered in Vilnius in 2008, was a fast-growing and crisis-proof transport company with 1,500 trucks and over 1,800 employees in 2023. Integre Trans has offices in Lithuania, Poland, France and Germany, and its main export countries are Germany, France, the Benelux, Italy, Spain and the UK.
Eurofound (2024), Integre Trans, Bankruptcy in Lithuania, factsheet number 201645, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201645.
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