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.
Manufacturing Manufacture Of Wood And Paper Materials Manufacture Of Wood And Of Products Of Wood And Cork, Except Furniture; Manufacture Of Articles Of Straw And Plaiting Materials 16 - Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
300 jobs Number of planned job losses
Announcement Date
5 February 2009
Employment effect (start)
28 February 2009
Foreseen end date
Description
Suberus, the country's second largest cork manufacturer located in Santa Maria da Feira, is on the brink of bankruptcy. Out of five units, four have declared bankruptcy - the cork transformation units Vivicor and Subercor; the real-estate management agency Inosuber and the trading unit Subergal. This decision will affect 300 workers out of a total workforce of 500. The workers have not received their wages since last December. The bankruptcy of the four units is attributed to the sharp decline in orders and significant export market loss (70%).
Sources
5 February 2009: Jornal de Notícias
Citation
Eurofound (2009), Suberus, Internal restructuring in Portugal, factsheet number 68361, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68361.
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