Restructuring events
European Restructuring Monitor (ERM)
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.
Lithuania's furniture manufacturer Akmena will dismiss 180 employees in Kretinga. The main cause of the dismissals is the bankruptcy of the company. According to the management, the company experienced financial difficulties because the price of wood and labour was growing but the main buyer refused to increase the price of the purchased products. Akmena was producing kitchen tables for the Swedish multinational furniture retailer IKEA. The company employed 180 employees.
Eurofound (2018), Akmena, Bankruptcy in Lithuania, factsheet number 94267, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94267.