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 Wood And Paper Materials Manufacture Of Paper And Paper Products 17.12 - Manufacture of paper and paperboard
370 jobs Number of planned job losses
Announcement Date
3 April 2012
Employment effect (start)
9 April 2012
Foreseen end date
10 May 2012
Description
Slovenian paper products manufacturer Radeče Papir has announced bankruptcy. This will result in the loss of 370 jobs.
The company located in Radeče (Savinjska region) has entered the process of compulsory settlement in December 2011, but failed to receive further loans. Consequently, Radeče Papir lacked the necessary financial resources to remain in business. Finally, they lost existing customers and the bankruptcy procedure was launched on 2 April 2012.
One of the directors at Radece Papir, Janez Pezdirc, commented to the Slovenian Press Agency (STA) that the company is considering setting up another firm to take over the business left by Radece Papir, but further details are as yet unknown.
The company is specialised in the production of art paper, paper for everyday use, bond and protected paper with various security features and watermarks as well paper used for passports and banknotes and other security printing.
Sources
17 March 2012: Delo
3 April 2012: Delo
Citation
Eurofound (2012), Radeče Papir, Bankruptcy in Slovenia, factsheet number 73386, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73386.
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