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.
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13 - Manufacture of textiles
138 jobs Number of planned job losses
Announcement Date
13 November 2004
Employment effect (start)
13 November 2004
Foreseen end date
31 December 2004
Description
The textile company João Duarte S.A., producing stockings, announced its closure. It results from the refusal of the social security of a recovery plan for an accumulated debt of 3 million euros. The measure will affect 138 workers. When closing, João Duarte had paid all their wages to its employees and still had orders in its order book. This is generally not the case for other textile companies closing. João Duarte is installed in Portugal since 1921.
Sources
13 November 2004: Público
Citation
Eurofound (2004), João Duarte, S.A, Closure in Portugal, factsheet number 60753, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60753.
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