Cestno podjetje Maribor (CPM)

Type
Bankruptcy
Country
Slovenia
Region
Slovenija; Vzhodna Slovenija; Podravska
Location of affected unit(s)
Maribor
Sector
Construction
42 - Civil engineering
42 - Civil engineering
42 - Civil engineering
799 - 669 jobs
Number of planned job losses
Job loss
Announcement Date
19 February 2011
Employment effect (start)
28 February 2011
Foreseen end date
31 March 2011

Description

Cestno podjetje Maribor (CPM), a road construction company from Maribor employing 669 workers, has filed for bankruptcy. All employees will lose their jobs. CPM used to be one of the biggest construction companies in the country, at its best time employed around 1,200 people. However, when the crisis started the company faced lack of orders and ended up in heavy debts.On 8 March 2011, new paper Delo announced that CPM Vzdrževanje in obnova cest, a daughter company of CPM also faces bankruptcy. CPM Vzdrževanje in obnova cest employs 130 workers. All of them will lose their jobs.Overall the bankruptcy of CPM will bring a total of 799 job losses.

Sources

  • 8 March 2011: Delo
  • 19 February 2011: Delo

Citation

Eurofound (2011), Cestno podjetje Maribor (CPM), Bankruptcy in Slovenia, factsheet number 71621, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71621.