Glaskek

Type
Bankruptcy
Country
Estonia
Region
Eesti; Eesti;
Location of affected unit(s)
Sector
Manufacturing
(16 - 17) Manufacture of wood and paper materials
16 - 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
163 jobs
Number of planned job losses
Job loss
Announcement Date
2 August 2010
Employment effect (start)
Foreseen end date
31 August 2010

Description

In August 2010, window and door manufacturer Glaskek announced bankruptcy. As a result, 163 persons lost their jobs. The company had faced financial difficulties and went through a process of reorganisation to restore its financial situation but it failed to do so. As a result, in June 2010, the company filed for bankruptcy.

Sources

Citation

Eurofound (2010), Glaskek, Bankruptcy in Estonia, factsheet number 70816, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70816.