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.
The Norwegian clothing company Devold Production has announced plans to expand its production and create 100 new jobs by the end of 2023 at its facility in Latvia's Balvu municipality, where it currently employs 26 people. The company has entered the Latgale Special Economic Zone (SEZ) and plans to invest almost EUR 1.8 million in the production of various types of men's and women's clothing.
Currently, the company operates in small workshops in the Balvu municipality. The new investments will be made to equip larger premises with manufacturing devices to expand production. The company aims to produce up to 460,000 clothing units in 2023.
Eurofound (2023), Devold Production Latvia, Business expansion in Latvia, factsheet number 108167, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108167.