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 Manufacturing Of Furniture And Other Manufacturing Manufacture Of Furniture 31.01 - Manufacture of office and shop furniture
105 jobs Number of planned job losses
Announcement Date
18 April 2018
Employment effect (start)
13 April 2018
Foreseen end date
Description
The bankrupt Austrian manufacturer of office furniture, Svoboda Büromöbel, has announced to close its production site in St. Pölten (Lower Austria) affecting 105 employees. Svoboda declared insolvency in January 2018 and tried to re-structure the company in order to avoid liquidation. After an in-depth assessment of Svobodas finances, the potential investor and buyer, BGO Holding, a group of office furntiture manufacturers, withdrew its interest in taking over Svoboda. The withdrawal of interest led liquidators to initiate the closure of the site. However, BGO Holding has already shown interest in hiring some of the affected Svoboda staff.
Sources
13 April 2018: Die Presse
18 April 2018: Die Presse
18 April 2018: Wiener Zeitung
Citation
Eurofound (2018), Svoboda, Bankruptcy in Austria, factsheet number 93797, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93797.
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