Type
Bankruptcy
Country
Lithuania
Region
Lietuva; Siauliu apskritis;
Location of affected unit(s)
Sector
Manufacturing
Manufacture of textiles, apparel and leather
Manufacture of leather and related products of other materials
15.11 - Tanning, dressing, dyeing of leather and fur

200 jobs
Number of planned job losses
Job loss
Announcement Date
6 June 2005
Employment effect (start)
6 June 2005
Foreseen end date

Description

Šiaulių stumbras, the largest and the oldest leather tanning and dressing company in Lithuania, announced its bankruptcy on 6 June 2005. The company experienced 10 million LTL losses from its main activity in 2004. Two hundred employees will be dismissed because of the company bankruptcy.


Sources

  • 7 June 2005: Lietuvos Rytas

Citation

Eurofound (2005), Šiaulių stumbras, Bankruptcy in Lithuania, factsheet number 61728, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61728.