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.
Textile manufacturer Svilanit, based in Kamnik, is to go into liquidation with a loss of all 250 employees. The company produces a broad variety of textile products, like towels, bathroom rugs, bathrobes, bedding, bedspreads, sheets, blankets, ties, fashion accessories etc. The existing majority owner of the company, who is also its manager, decided to liquidate the company, which means that all the employees will lose jobs. The dismissal of workers will begin in April and will last until the end of 2009. The existing owner bought the company in early 2008. She says that circumstances were totally different then, but even at that time it was obvious that a textile production in the present location is not viable in the long run. The idea was to keep the production on the existing location by 2011. In the circumstances of economic downturn, the situation worsened dramatically and liquidation is the only option.
Eurofound (2009), Svilanit, Bankruptcy in Slovenia, factsheet number 68523, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68523.