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.
In Sisak, Zlatna igla - Siscia, a long-standing textile factory that employs a little more than a hundred workers, began a strike due to the non-payment of wages for July 2024, while the management announced a bankruptcy procedure. The factory has been facing difficulties for a long time regarding its market position, competitiveness, and financial sustainability.
Four months ago, it changed ownership, but this did not significantly improve its position. Thus, the opening of bankruptcy proceedings was agreed for 23 September 2024. Planned job measures include potential dismissals, as over 100 workers could be laid off if the company shuts down. Local social partners, including the President of the City Council, Bojan Dadasović, have expressed concern, criticising the lack of transparency and engagement from the new owners.
The Trade Union in Textile, Garment, Leather, and Rubber of Croatia is willing to provide various forms of aid to dismissed workers.
Eurofound (2024), Zlatna igla - Siscia, Bankruptcy in Croatia, factsheet number 201545, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201545.