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.
The decision to close the site was motivated by the great fluctuation in the exchange rate between the Hungarian and English currencies. As the company exports 98% of its Hungarian production to the UK, large difference in exchange rates made local production too expensive.
The NyÃregyháza plant was bought by Berwin & Berwin, based in Leeds, in 1992 together with other three plants of which only two remain operational. The company produces mainly suits and quality menswear.
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Sources
25 September 2008: Heti Világgazdaság
19 January 2009: HR Portal
17 January 2009: Index
Citation
Eurofound (2008), Berwin Ruhagyár, Closure in Hungary, factsheet number 70013, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70013.
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