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 Wearing Apparel 14 - Manufacture of wearing apparel
153 jobs Number of planned job losses
Announcement Date
12 April 2019
Employment effect (start)
12 April 2019
Foreseen end date
Description
Sparta, one of the largest socks manufacturers in Lithuania and the Baltic states, intends to dismiss around 153 employees in Vilnius in 2019. On 7 March 2019, Sparta sold its business to the Danish socks manufacturer JBS Textile Group. As a result of this transaction, Sparta will dismiss 153 employees but some of them will be employed in the new company. The buyer of the company has committed to take over at least 100 of Sparta employees. Currently the company employs 154 employees.
Eurofound (2019), Sparta, Merger/Acquisition in Lithuania, factsheet number 97574, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/97574.
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