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.
Minija, one of the oldest wood processing and furniture producing companies in Lithuania, announced its bankruptcy on 11 June, 2008. All 130 employees working in the company were dismissed. According to the administration, the main causes of the closure were raising wood prices and high competition in furniture production market. The company’s debt to creditors amounts to about 3 million LTL.
Eurofound (2008), Minija, Bankruptcy in Lithuania, factsheet number 66748, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66748.