Type
Bankruptcy
Country
Finland
Region
Manner-Suomi; Pohjois-Suomi; Keski-Pohjanmaa
Location of affected unit(s)
Turku
Sector
Manufacturing
Manufacture Of Computer, Electrical Electronic And Optical Products
Manufacture Of Computer, Electronic And Optical Products
26 - Manufacture of computer, electronic and optical products

250 - 259 jobs
Number of planned job losses
Job loss
Announcement Date
19 September 2005
Employment effect (start)
20 September 2005
Foreseen end date

Description

On 19 August 2005 the manufacturer of TV sets and equipment Finlux, shut down the production due to bankruptcy. All employees of the 250 will be made redundant. The company has struggled for many years to find financing but the final trial to get new injection for the loss making factory resulted in the closure decision.


Sources

  • 20 September 2005: Helsingin Sanomat

Citation

Eurofound (2005), Finlux, Bankruptcy in Finland, factsheet number 62257, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62257.