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 Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
300 jobs Number of planned job losses
Announcement Date
4 June 2009
Employment effect (start)
30 June 2009
Foreseen end date
Description
LTH, a Slovenian manufacturer of refrigerators and freezers, has declared bankruptcy, leading to 300 job losses at its unit in Å kofja Loka.
LTH specialised in the production of chest freezers, cabinets for ice cream and frozen food, and refrigerators for catering industry and shops, and employed 300 workers. The company faced severe problems for some time, with difficulties in financing the supply of inputs for production and decreasing sales. The internal restructuring plans announced in October 2008 have not been successful (see factsheet). Consequently, in June 2009 the beginning of the bankruptcy procedure was announced, and all the workers received their notice. The future of the company is uncertain.
Sources
4 June 2009: Delo
Citation
Eurofound (2009), LTH (Loške tovarne hladilnikov), Bankruptcy in Slovenia, factsheet number 69225, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69225.
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