Restructuring events
European Restructuring Monitor (ERM)
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.
The silk weaving shop and ready-made shop of Dunavska koprina have reopened after a 3 years interruption. The silk-weaving shop is the only one of its kind in Bulgaria, said the executive director Milka Dimitrova. The start of the production comes in relation with the completion of the Bulgarska Koprina cluster which started in 28 May 2004. ‘The objective of the cluster is to unite small and medium scaled productions. The structure proposed is typical for a vertical cluster and we will close the cycle from the raw material manufacture to the final product. As a result more than 8,000 working places are expected to be created in the country’, Dimitrova said. Early August 2005, an agreement was reached to start a pilot project together with the Municipality of Razgrad and the Ministry of Labour and Social Policy in order to cultivate cocoons, needed for the silk production, said Dimitrova. The jacquard shop of the factory is working with 80% of its capacity at the moment, with a four shift non-stop working regime.
Dunavska koprina bankrupted in 2002. In 2003 the directors board together with the trustee and the owner - the German company Muller and sons - have worked out a rehabilitation programme, which foresees a full recovery of the firm by 2008.
Eurofound (2005), Dunavska koprina, Business expansion in Bulgaria, factsheet number 62071, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62071.