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.
On 20 October 2008, Venta, a producer of chairs and tables in Siauliai, closed down with the loss of 800 jobs. The main cause of the closure was the fall in demand for the company products. According to the management, Venta had a loss of 9 million LTL in 2007. Now the management intends to rent out the equipment so the company could gradually pay its suppliers and creditors.
Eurofound (2008), Venta, Closure in Lithuania, factsheet number 67302, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67302.