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 leading textile producer Jitka, located in Jindřichův Hradec, announced on 30 October 2006, that it had to close its weaving mill and to cut the current staff of 430 people by 130 workers within three months. The main reason was the flow of cheap clothes from Asia. The management started negotiations with potential foreign investors from Netherlands, Germany and Italy that have shown interest in collaboration.
On 1 March 2007, the newspaper reported about the closure of the company by the end of May 2007, because owners of the company have not found any foreign investors. The remaining 320 employees (in particular women) will lose their jobs.
Eurofound (2006), Jitka Jindřichův Hradec, Closure in Czechia, factsheet number 64336, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64336.