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.
Šatrija, a sewing company controlled by the Utenos Trikotažas group, is laying off all 117 of its employees. The company produced clothing for firefighters and soldiers and sewed ‘survival suits’ for sailors, fishermen, and oil rig workers. The reason for the layoffs is bankruptcy, as declared by the court on September 7th.
According to the head of the joint-stock company Šatrija Giedrius Grondskis, who requested the bankruptcy proceedings, the company's liabilities to creditors exceed the value of its assets. According to a statement by Utenos Trikotažas, with wages and other costs rising rapidly in Lithuania, Šatrija had been suffering continuous financial losses since 2023. Even at full production capacity, it was unable to compete on price with cheaper goods from third countries.
The company applied to PES on September 18 regarding the dismissal of a group of employees. Most of the employees being laid off are seamstresses (59) and sewing operators (20). Auxiliary workers (6), technologists (4), cutters (3), and assemblers (3) are also being laid off. The layoffs are scheduled for October 8-16.
The company had been operating in Lithuania since 1955, so its bankruptcy is sad news for the entire Raseiniai community due to not only the loss of workplaces, but also the loss of the region’s economic identity.
Eurofound (2025), Šatrija, Bankruptcy in Lithuania, factsheet number 203379, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203379.