Type
Bankruptcy
Country
Czechia
Region
Praha; Hlavni mesto Praha;
Location of affected unit(s)
Praha
Sector
Arts / Entertainment
Arts, Entertainment And Culture
Gambling And Betting Activities
92 - Gambling and betting activities

100 jobs
Number of planned job losses
Job loss
Announcement Date
27 July 2011
Employment effect (start)
1 May 2011
Foreseen end date
27 July 2011

Description

Sazka, a Czech lottery company, has filed for bankruptcy and laid off about 100 people, representing about a quarter of its workforce (420 employees). The company is now managed by a bankruptcy trustee who intends to rationalise operations. The company's financial problems with debt repayment are linked with the construction of Prague Concert Hall O2 Arena.


Sources

  • 27 July 2011: Idnes
  • 27 July 2011: Lidové Noviny

Citation

Eurofound (2011), Sazka, Bankruptcy in Czechia, factsheet number 72471, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72471.