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, Printing And Reproduction Of Recorded Media Printing And Reproduction Of Recorded Media 18 - Printing and reproduction of recorded media
170 jobs Number of planned job losses
Announcement Date
28 December 2006
Employment effect (start)
Foreseen end date
Description
Printing firm Kossuth Nyomda was shut down and its 170 employees were dismissed at the end of December 2006. The company looks back to a long history: it was established in 1884 and in recent years it served the most prominent publishing houses present in Hungary. In 2005 Kossuth Nyomda registered a loss of HUF 100 million on sales of HUF 4 billion. The company faced difficulties in liquidation and was forced to sell its building which then was leased back. In July 2006 the Budapest Court of Law ruled the liquidation of the company and appointed TM-Line as liquidator. Some of the company's assets were sold but selling the company failed even after the second attempt, so the liquidator announced the closure of the 122-year old printing house.
Sources
29 December 2006: Magyar Nemzet
29 December 2006: index.hu
Citation
Eurofound (2006), Kossuth Nyomda, Closure in Hungary, factsheet number 64762, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64762.
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