Neue Erba Lautex

Type
Bankruptcy
Country
Germany
Region
Sachsen; Dresden;
Location of affected unit(s)
Sector
Manufacturing
(13 - 15) Manufacture of textiles, apparel and leather
13 - Manufacture of textiles
13 - Manufacture of textiles
220 jobs
Number of planned job losses
Job loss
Announcement Date
20 June 2005
Employment effect (start)
30 June 2005
Foreseen end date
30 June 2005

Description

Producer of textiles Neue Erba Lautex will be closed at the end of june 2005, after the search for an investor has turned out to be unsuccessful. At the behest of the EU, the company had to pay back subsidies in 1999 and filed for insolvency shortly afterwards. A worldwide tender has not produced a single potential buyer.

Sources

  • 20 June 2005: MDR.DE

Citation

Eurofound (2005), Neue Erba Lautex, Bankruptcy in Germany, factsheet number 61779, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61779.