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 Food And Beverage Manufacture Of Food Products 10.13 - Production of meat and poultry meat products
70 - 269 jobs Number of planned job losses
Announcement Date
3 December 2015
Employment effect (start)
3 December 2015
Foreseen end date
Description
The Styrian manufacturer of sausages and meat products, Schirnhofer, went bankrupt as a consequence of the insolvency of the Austrian retail chain Zielpunkt (Eurofound reported this case in 2015).
The family-run business has been in economic difficulties for some time and since 2011 has been implementing several restructuring measures. The insolvency of Zielpunkt, the company’s main costumer, further worsened the firm's economic situation and increased the amount of debts to €21 million.
Schirnhofer currently employs a total of 269 people. The company announced that it will not be able to pay out wages for November and Christmas bonuses. So far, Schirnhofer has registered 70 employees with the early warning system (Frühwarnsystem) of Public Employment Services (AMS) .
Sources
1 December 2015: Der Standard
30 November 2015: Wirtschaftsblatt
1 December 2015: Wiener Zeitung
1 December 2015: ORF Steiermark
Citation
Eurofound (2015), Schirnhofer, Bankruptcy in Austria, factsheet number 85606, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/85606.
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