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 Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13.30 - Finishing of textiles
100 jobs Number of planned job losses
Announcement Date
22 October 2018
Employment effect (start)
Foreseen end date
31 December 2018
Description
Vespa Prostějov, a Czech textile producer of classical cloths for men, especially men's suits and coats, is facing insolvency and is about to end production. As a result, approximately 100 employees will lose their jobs. The financial problems of the company, which led to total liabilities of CZK 28.6 million (€1.1 million), were caused by the increase in employees' wages and the exchange rate for the Czech Koruna against the Euro. The Czech Labour Office has already offered help to Vespa Prostějov employees.
Sources
Citation
Eurofound (2018), Vespa Prostějov, Bankruptcy in Czechia, factsheet number 95686, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/95686.
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