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.
Boxmark Leather', a manufacturing company that produces stitched leather covers for passenger car seats, leather trim parts and leather upholstered parts, announced that it would close its plant in Zlatar Bistrica and lay-off 364 workers. Due to the COVID-19 pandemic and the war in Ukraine, the international automotive industry is exposed to a series of challenges in the form of recurring disruptions in numerous supply chains, constant shortages of key components, insufficient quantities of raw materials and the increase in their prices, as well as the explosion of energy and transport costs. These negative circumstances are reflected in the market environment of the Boxmark company which is forced to close its production in Zlatar Bistrica, but hopes to maintain its production capacities in Croatia in accordance with current and future market needs and supply conditions. The company prepared a plan for taking care of workers, which was adopted by the workers' council, the Trade union in textile, garment, leather, rubber of Croatia and the Croatian Employment Service. A part of the worker will be employed in the plant in the City of Trnovec, not far from Varaždin.
Eurofound (2023), Boxmark Leather , Closure in Croatia, factsheet number 108750, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108750.