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 Manufacturing Of Furniture And Other Manufacturing Manufacture Of Furniture 31 - Manufacture of furniture
8,000 jobs Number of planned job losses
Announcement Date
22 June 2007
Employment effect (start)
Foreseen end date
Description
Schieder, one of Europe’s largest furniture producers (employing 11,600 people at 40 plants across Europe), has gone bankrupt. Some 8,000 jobs are at stake in Poland. The primary cause of the company’s financial difficulties lay in the unexpected spike in timber prices as well as in the fact that labour costs in Poland turned out to be higher than anticipated. Schieder’s Polish operations comprise Bydgoskie Fabryki Mebli, ETAP, Mazurskie Meble Trading, Mazur Comfort, Mazur Look, FS Favorit Furniture, Mazur Direct, HF Helevita, Flair Polsnad, Top Sofa, Tapicernia Gniewkowo, IMS, and Nowa E.
Sources
22 June 2007: Wirtualny Nowy Przemysł Webside (www.wnp.pl)
Citation
Eurofound (2007), Schieder, Bankruptcy in Poland, factsheet number 65514, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65514.
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