Type
Bankruptcy
Country
France
Region
Nord - Pas-De-Calais;
Location of affected unit(s)
Sector
Manufacturing
Manufacture Of Material For Textiles, Apparel, Leather And Related Products
Manufacture Of Textiles
13.1 - Preparation and spinning of textile fibres

341 jobs
Number of planned job losses
Job loss
Announcement Date
5 February 2004
Employment effect (start)
Foreseen end date

Description

The Tribunal of Commerce of Roubaix-Tourcoing has declared the closure of Saint Liévin, thread manufacturer, after it had filed for bankruptcy in December. This closure induces the loss of 341 jobs. Competition from Asia, high pay rates and the high euro have caused the bankruptcy of the group which exported 60% of its production.


Sources

  • 5 February 2004: Les Echos

Citation

Eurofound (2004), Saint Liévin, Bankruptcy in France, factsheet number 59231, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59231.