Type
Bankruptcy
Country
Lithuania
Region
Lietuva; Vilniaus apskritis;
Location of affected unit(s)
Vilnius
Sector
Construction
Construction Of Buildings And Infrastructure Engineering
Construction Of Buildings
41 - Construction of buildings

500 jobs
Number of planned job losses
Job loss
Announcement Date
7 May 2009
Employment effect (start)
21 May 2009
Foreseen end date

Description

The construction company Kasyba, located in Vilnius, announced its bankruptcy on 7 May, 2009. The company employs 500 people and all will be dismissed by the end of this month. The main cause for bankruptcy was a sharp decrease in the number of orders due to a downfall in demand for real estate in Lithuania.


Sources

  • 21 May 2009: Verslo zinios

Citation

Eurofound (2009), Kasyba, Bankruptcy in Lithuania, factsheet number 68970, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68970.