Grundig

Type
Bankruptcy
Country
Germany
Region
Location of affected unit(s)
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
1,400 jobs
Number of planned job losses
Job loss
Announcement Date
28 May 2003
Employment effect (start)
Foreseen end date

Description

Grundig had to declare insolvency after the failure of the negociations with the Turkish Group Beko. Parts of the enterprise should be sold and the impact on the workforce is not known until now.

Sources

  • 14 April 2003: Grundig - Press release (www.grundig.de)
  • 15 April 2003: Financial Times Deutschland

Citation

Eurofound (2003), Grundig, Bankruptcy in Germany, factsheet number 59805, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59805.