Type
Bankruptcy
Country
Sweden
Region
Västsverige; Västra Götalands län;
Location of affected unit(s)
Orust
Sector
Construction
Construction Of Buildings And Infrastructure Engineering
Civil Engineering
42 - Civil engineering

120 jobs
Number of planned job losses
Job loss
Announcement Date
9 August 2011
Employment effect (start)
9 August 2011
Foreseen end date

Description

On 9th August 2011, Najadvarvet AB submitted a petition for bankruptcy to the District Court of Uddevalla and informed all 120 employees about it. The company has suffered a major liquidity crisis due to its low sales numbers and misguided ventures of its former owner as well as due to the long-term decline in demand in the boat industry and the on-going difficulties in the financial markets globally, all of which led to the announced bankruptcy.


Sources

Citation

Eurofound (2011), Najadvarvet, Bankruptcy in Sweden, factsheet number 72338, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72338.