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 (13 - 15) Manufacture of textiles, apparel and leather 15.1 - Tanning, dyeing, dressing of leather and fur; manufacture of luggage, handbags, saddlery and harness 15.11 - Tanning, dressing, dyeing of leather and fur
200 jobs Number of planned job losses
Announcement Date
6 June 2005
Employment effect (start)
6 June 2005
Foreseen end date
Description
Šiaulių stumbras, the largest and the oldest leather tanning and dressing company in Lithuania, announced its bankruptcy on 6 June 2005. The company experienced 10 million LTL losses from its main activity in 2004. Two hundred employees will be dismissed because of the company bankruptcy.
Sources
7 June 2005: Lietuvos Rytas
Citation
Eurofound (2005), iaulių stumbras, Bankruptcy in Lithuania, factsheet number 61728, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61728.
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