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 residential and non-residential buildings Construction of residential and non-residential buildings 41 - Construction of residential and non-residential buildings
220 jobs Number of planned job losses
Announcement Date
19 April 2004
Employment effect (start)
19 April 2004
Foreseen end date
Description
Since efforts to substantively restructure the old-established construction firm Buhl-Bau, which is domiciled in the northern regions of Lower Austria, failed, it was forced to close in the mid of April 2004. The two housebanks of the firm have refused any further engagement. According to statements of the Credit Protection Association of 1870, the company has accumulated debts totalling 25 million euros. Altogether, some 220 workers, working at about 100 construction sites, stand to lose their jobs.
Sources
19 April 2004: Der Standard
Citation
Eurofound (2004), Buhl-Bau, Closure in Austria, factsheet number 60321, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60321.
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