Spin-Group

Type
Bankruptcy
Country
Belgium
Region
Vlaams Gewest; Prov. Antwerpen; Arr. Turnhout
Location of affected unit(s)
Peer, Grobbendonk
Sector
Manufacturing
(13 - 15) Manufacture of textiles, apparel and leather
13.9 - Manufacture of other textiles
13.93 - Manufacture of carpets and rugs
293 jobs
Number of planned job losses
Job loss
Announcement Date
8 October 2008
Employment effect (start)
13 October 2008
Foreseen end date
31 October 2008

Description

Spin-Group, a carpet and rugs manufacturer in Belgium, has been declared bankrupt, leading to the redundancy of 293 people. Spin-group was severely affected by the crisis of the textile sector caused by decreasing demand. This crisis has led to numerous restructuring and closures among textile manufacturers in Flanders.

For more information, see EIRO report.

Sources

Citation

Eurofound (2008), Spin-Group, Bankruptcy in Belgium, factsheet number 67907, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67907.