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.
Manufacturing Manufacture Of Wood And Paper Materials Manufacture Of Paper And Paper Products 17 - Manufacture of paper and paper products
120 jobs Number of planned job losses
Announcement Date
22 September 2011
Employment effect (start)
23 September 2011
Foreseen end date
26 June 2012
Description
In September 2011, Hunsfos Factories, a paper factory in Vennesla in Vest-Agder, Norway, filed for bankruptcy, which result in the dismissal of 120 workers.
Following several years of financial deficits and the announcement of bankruptcy, the factory closed down. It was reported that the new owners made efforts to sustain the business, but eventually, in March 2012 the factory site was sold to Hunsfos Industrial Company with plans to create a business park on site.
Sources
23 September 2011: NRK.no
Citation
Eurofound (2011), Hunfos Fabrikker, Bankruptcy in Norway, factsheet number 73681, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73681.
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