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 Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
4,086 jobs Number of planned job losses
Announcement Date
8 April 2006
Employment effect (start)
8 April 2006
Foreseen end date
Description
Ekranas, one of the biggest manufacturers of television tubes in the Baltic States, announced its bankruptcy on 8 April, 2006. All 4,086 people working in the company will be dismissed by the end of April, 2006. The company experienced losses of LTL 110 million in 2005. The main reason for decreased sales of the company is increasing competition from cheaper production locations in Asia.
Sources
8 April 2006: Lietuvos Rytas
Citation
Eurofound (2006), Ekranas, Bankruptcy in Lithuania, factsheet number 63305, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63305.
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