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 Material For Textiles, Apparel, Leather And Related Products Manufacture Of Wearing Apparel 14 - Manufacture of wearing apparel
320 jobs Number of planned job losses
Announcement Date
22 January 2007
Employment effect (start)
23 January 2007
Foreseen end date
Description
The traditional knitwear manufacturer Gebrüder Wolff, which is headquartered in Hard (Vorarlberg) and runs several plants in Hungary and Slovakia, was declared on 23 January 2007. According to one of the firm’s managers, this insolvency has resulted from an aggressive price policy performed by most of the competitors and thus significant losses in turnover during the past years. As a consequence, all of the 320 domestic employees at the site in Hard and additional 235 workers who are employed by subsidiaries abroad stand to lose their jobs. The governor of the province of Vorarlberg, Herbert Sausgruber, announced a joint drawing up of a re-employment scheme by both the Land and the Labour Market Service.
Sources
23 January 2007: Der Standard
Citation
Eurofound (2007), Gebrüder Wolff, Bankruptcy in Austria, factsheet number 64826, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64826.
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