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.
Hotel / Restaurants Accommodation And Food Service Activities Food And Beverage Service Activities 56.1 - Restaurants and mobile food service activities
100 jobs Number of planned job losses
Announcement Date
6 June 2013
Employment effect (start)
Foreseen end date
31 December 2013
Description
The Portugália Group, a Portuguese catering group, will close three or four restaurants (out of the existing 35) within the end of the year. This process will lead to the dismissal of 100 workers.
The Portugália Group had financial losses for the first time last year, when it lost more than two million euros.
This adds to the negative effects of the introduction of VAT at the rate of 23% in the sector and the lack of purchasing power of the Portuguese people.
According to the Portuguese Association for Hotels and Restaurants (Associação da Hotelaria, Restauração e Similares de Portugal - AHRESP) this is an example of how the increase in VAT from 13% to 23% in the catering sector is already jeopardizing establishments which used to be a reference in terms of job creation and positive results.
Sources
5 June 2013: Noticias ao minuto
Citation
Eurofound (2013), Portugalia, Closure in Portugal, factsheet number 75565, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75565.
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