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.
Media Publishing activities Publishing of books, newspapers and other publishing activities, except software publishing 58.1 - Publishing of books, newspapers and other publishing activities, except software publishing
101 jobs Number of planned job losses
Announcement Date
26 August 2009
Employment effect (start)
1 September 2009
Foreseen end date
Description
The company Musu Knyga, engaged in publishing and wholesale of books, suspended its activity at the end of August, 2009. All 101 employees of the company were dismissed. The main cause of the suspension was high debts of the company (amounted to approximately two million LTL). According to the management, increased VAT tax (from 5 to 9%) at the beginning of 2009 in Lithuania as well as decreased demand for books had a negative impact on the company's activity.
Sources
26 August 2009: Lietuvos Rytas
Citation
Eurofound (2009), Musu Knyga, Closure in Lithuania, factsheet number 69478, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69478.
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