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 - Manufacture of furniture
180 jobs Number of planned job losses
Announcement Date
6 June 2018
Employment effect (start)
6 June 2018
Foreseen end date
Description
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.
Sources
6 June 2018: Verslo zinios
Citation
Eurofound (2018), Akmena, Bankruptcy in Lithuania, factsheet number 94267, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94267.
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