Type
Closure
Country
Portugal
Region
Continente; Norte;
Location of affected unit(s)
Paredes
Sector
Manufacturing
Manufacture Of Material For Textiles, Apparel, Leather And Related Products
Manufacture Of Textiles
13 - Manufacture of textiles

200 jobs
Number of planned job losses
Job loss
Announcement Date
19 May 2005
Employment effect (start)
1 May 2005
Foreseen end date
31 May 2005

Description

The textile company Vissuto announced its closure due to a conflict between the two partners. The measure will affect 200 workers. When closing, Vissuto had paid all their wages to its employees and still had orders in its order book which is generally not the case for other textile companies closing. In 2004, the business-oriented company registered a volume of about €750 million.


Sources

  • 19 May 2005: Correio da Manhã

Citation

Eurofound (2005), Vissuto, Closure in Portugal, factsheet number 61659, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61659.