Pfaff Industrie Maschinen

Type
Bankruptcy
Country
Germany
Region
Location of affected unit(s)
Sector
Manufacturing
(28) Manufacture of machinery and equipment
28 - Manufacture of machinery and equipment n.e.c.
28 - Manufacture of machinery and equipment n.e.c.
220 jobs
Number of planned job losses
Job loss
Announcement Date
30 January 2009
Employment effect (start)
1 February 2009
Foreseen end date

Description

Pfaff Industrie Maschinen, a German manufacturer of industrial sewing machines owned by German investor GCI BridgeCapital, is to cut 220 jobs out of 400 in Germany in Febuary 2009 because of insolvency. Workers will have the option to move to a job placement agency; there will be no direct dismissals. The company, which filed for insolvency in September 2008, keeps looking for a new investor.

Sources

  • 31 January 2009: Frankfurter Allgemeine Zeitung

Citation

Eurofound (2009), Pfaff Industrie Maschinen, Bankruptcy in Germany, factsheet number 68050, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68050.