Nova Penteação

Type
Bankruptcy
Country
Portugal
Region
Continente; Centro (PT); Beiras e Serra da Estrela
Location of affected unit(s)
Covilhã
Sector
Manufacturing
(13 - 15) Manufacture of textiles, apparel and leather
13 - Manufacture of textiles
13 - Manufacture of textiles
300 jobs
Number of planned job losses
Job loss
Announcement Date
7 July 2003
Employment effect (start)
1 July 2003
Foreseen end date
1 December 2003

Description

The company is declared insolvent due to money lack for the wage payments, raw materials and debts to banks and suppliers. The company will then close down and dismiss 300 workers.

Sources

  • 7 July 2003: Correio da Manhã

Citation

Eurofound (2003), Nova Penteação, Bankruptcy in Portugal, factsheet number 59070, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59070.