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.
Galaune, the company producing electric equipment in Silute, announced its bankruptcy on 10 October 2008. All 125 employees of the company were dismissed on 26 October 2008. The main cause for bankruptcy was the termination of the contractual relationship with Yazaki Wiring Technologies Lietuva, which produces wires for Renault. At the moment Yazaki Wiring Technologies Lietuva is also experiencing some difficulties because of decreased orders of production.
Eurofound (2008), Galaune, Bankruptcy in Lithuania, factsheet number 67960, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67960.