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.
Manufacturing Manufacture Of Food And Beverage Manufacture Of Food Products 10.11 - Processing and preserving of meat
120 jobs Number of planned job losses
Announcement Date
17 November 2005
Employment effect (start)
Foreseen end date
Description
One of the biggest meat processing companies in Marijampole (Ceceta region) had to stop its activities. Due to a relatively small debt (€12,464), Marijampole's bailiffs had arrested Ceceta's accounts. As a result, Ceceta couldn't reckon with other partners and suppliers. Electricity at Ceceta's plant was turned out. Ceceta was forced out to stop the production and therefore was not able to fulfil its obligations for a numbers of partners.
According to the director, the bankruptcy will be announced for Ceceta, though different possibilities to restructure the activities of the plant are discussed. 20 out of 140 Ceceta's employees left the office; another 120 are waiting for the bankruptcy procedure.
Sources
17 November 2005: Lietuvos Rytas
Citation
Eurofound (2005), Ceceta, Bankruptcy in Lithuania, factsheet number 62578, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62578.
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