Type
Bankruptcy
Country
Lithuania
Region
Lietuva;
Location of affected unit(s)
Sector
Transportation / Storage
Warehousing And Support Activities For Transportation, Postal And Courier Activities
Postal And Courier Activities
53 - Postal and courier activities

246 jobs
Number of planned job losses
Job loss
Announcement Date
8 October 2013
Employment effect (start)
23 October 2013
Foreseen end date
31 October 2013

Description

Lithuanian postal and courier company Vilpostus was declared bankrupt; the measure will result in the loss of 246 jobs by the end of of October 2013.

According to the company, the main reasons for the closure are the market competition combined with high costs and the increase of the minimum wage in Lithuania


Sources

  • 8 October 2013: Verslo zinios

Citation

Eurofound (2013), Vilpostus, Bankruptcy in Lithuania, factsheet number 76002, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76002.