Type
Closure
Country
Romania
Region
Centru; Covasna;
Location of affected unit(s)
Covasna, Covasna county, Center region
Sector
Hotel / Restaurants
Accommodation And Food Service Activities
Accommodation
55.1 - Hotels and similar accommodation

104 jobs
Number of planned job losses
Job loss
Announcement Date
5 January 2009
Employment effect (start)
1 February 2009
Foreseen end date

Description

SIF Transilvania, a hotel group based in Romania, is to close, resulting in job losses for 104 employees. The 104 announced lay offs will be across three hotels, located in Covasna in the Centre Region. 

The reason for the closure is the intention of the company to temporarily close for renovation of the three hotels, an investment estimated at 40 million euros. Despite the temporary closure, the lay offs are permanent.


Sources

Citation

Eurofound (2009), SIF Transilvania, Closure in Romania, factsheet number 68055, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68055.