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.
Drobe, the company producing fabrics from pure wool and semi wool in Kaunas, announced its bankruptcy on 18 August, 2008. All 840 employees, who have been working in the company, will be dismissed by 2 October 2008. According to the management, a new company Drobe LT will be established in place of Drobe. The newly established company will re-employ 500 dismissed employees of Drobe, 400 of them have already started to work there. The main cause of the bankruptcy was heavy debts of the company. Drobe experienced a loss of 10.2 million LTL in the first half of the year 2008.
Eurofound (2008), Drobe, Merger/Acquisition in Lithuania, factsheet number 67147, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67147.