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 Textiles 13 - Manufacture of textiles
European Globalisation Fund (EGF)
Year: 2008, Case number: 3
1,200 jobs Number of planned job losses
Announcement Date
17 July 2007
Employment effect (start)
18 July 2007
Foreseen end date
Description
Alytaus Tekstile, a Lithuanian firm that manufactures textiles and is based in Alytus, has announced that it has become bankrupt and that subsequently its 1,200 employees are to lose their jobs. Despite the fact that the firm has received subsidies from the Lithuanian Government, the company experienced a loss of 7.5 million LTL in the first half of 2007. There are grounds for hoping that the dismissed workers will find new employment without great difficulty. Alytus Labour Exchange has announced that some of the Alytaus Tekstile workers are to be employed in other textile firms in Kaunas and in other Lithuanian districts.
Eurofound (2007), Alytaus Tekstile, Bankruptcy in Lithuania, factsheet number 65690, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65690.
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