Type
Bankruptcy
Country
Slovenia
Region
Slovenija; Savinjska;
Location of affected unit(s)
Velenje
Sector
Construction
Construction Of Buildings And Infrastructure Engineering
Civil Engineering
42 - Civil engineering

574 jobs
Number of planned job losses
Job loss
Announcement Date
14 October 2010
Employment effect (start)
14 October 2010
Foreseen end date
15 October 2010

Description

On 14 October 2010 Vegrad Group, one of the largest Slovenian construction companies, announced bankruptcy and all 574 employees lost their jobs. Due to economic recession and standstill on the housing market, Vegrad d.d. - holding company of the group, located in Velenje in the Savinjska region - has no longer been able to serve its liabilities.


Sources

  • 8 October 2010: Delo
  • 14 October 2010: Delo

Citation

Eurofound (2010), Vegrad, d.d., Bankruptcy in Slovenia, factsheet number 71049, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71049.