Tovarna vozil Maribor (TVM)

Type
Bankruptcy
Country
Slovenia
Region
Slovenija; Vzhodna Slovenija; Podravska
Location of affected unit(s)
Maribor
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
29.1 - Manufacture of motor vehicles
29.1 - Manufacture of motor vehicles
131 jobs
Number of planned job losses
Job loss
Announcement Date
4 March 2011
Employment effect (start)
4 March 2011
Foreseen end date
30 April 2011

Description

On 3 March 2011, bus manufacturer Tovarna vozil Maribor (TVM) filed for bankruptcy and all 131 employees will lose their jobs by the end of April 2011. TVM has been in financial troubles for a long time, mostly because of high indebtness of the parent company, Viator-Vektor Group, which has not been able to finance TVM operations. In the last couple of months, there were several unsuccessful attempts to find a strategic partner for TVM.

Sources

  • 4 March 2011: Delo

Citation

Eurofound (2011), Tovarna vozil Maribor (TVM), Bankruptcy in Slovenia, factsheet number 71678, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71678.