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 31.0 - Manufacture Of Furniture
500 jobs Number of planned job losses
Announcement Date
9 November 2023
Employment effect (start)
9 November 2023
Foreseen end date
Description
On 09 November 2023, German furniture company Nolte Möbel filed for insolvency, leading to the loss of 500 jobs.
According to newspaper reports, this step had become necessary due to the current economic challenges in the business. Nolte Möbel had been outsourced three years ago by its former mother company Nolte Group. Since that time, the company operates independently. Around 500 employees work for Nolte Möbel and are affected by the company's bankruptcy. As of 20 November 2023, there are no further news on the employees' job situation or any remarks regards their employment contracts.
Eurofound (2023), Nolte Möbel, Bankruptcy in Germany, factsheet number 200520, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200520.
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