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.
Alfod es Eszak; Eszak-Magyarorszag; Borsod-Abauj-Zemplen
Location of affected unit(s)
Sátoraljaújhely
Sector
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Wearing Apparel 14.13 - Manufacture of other outerwear
490 - 570 jobs Number of planned job losses
Announcement Date
10 October 2005
Employment effect (start)
Foreseen end date
Description
Garment trade firm Herukon has gone into administrtion after the company piled up liabilities amounting to Ft 300 million. Established in 1954, the Sátoraljaújhely-based firm appealed for state help in May 2005 in order to save some 570 jobs but was unable to succeed of it as it failed to pay off its debts, a condition for the aid. Production, however, will continue in Sátoraljaújhely as part of the company's site has been leased to an investor, which will be relaunching operation with 80 staff.
Sources
10 October 2005: Világgazdaság
Citation
Eurofound (2005), Herukon, Closure in Hungary, factsheet number 62401, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62401.
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