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 closure of the Guerreiro & Génios, a textille company that has heen operating for almost 50 years in Portugal, will lead to the dismissal of at least 130 workers.
The company, which produces coats for the national and international market, working with brands such as Massimo Dutti, Hugo Boss, Carolina Herrera, among others, claims that a lack of orders is the main reason for the closure. In contrary, workers disagree and pointed out the bad management.
According to the union representative, since Easter there had been delays in payment of wages.
The workers were informed by email after their holidays had ended.
Eurofound (2023), Guerreiros & Génios, Closure in Portugal, factsheet number 200723, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200723.