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
420 jobs Number of planned job losses
Announcement Date
3 December 2005
Employment effect (start)
Foreseen end date
Description
Gyöngyös based meat processor Falcotrade has officially filed for bankruptcy on 3 December 2005. The meat company currently employs 420 workers. Since company owners have found some larger than expected debt at Falcotrade (Ft 130 million), they have ordered that a comprehensive financial investigation to be conducted to find out the financial and the economic background of the present situation, and whether the current market trends have any implication on the bankruptcy.
Sources
6 December 2005: Népszabadság
Citation
Eurofound (2005), Falcotrade, Bankruptcy in Hungary, factsheet number 62634, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62634.
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