Restructuring events
European Restructuring Monitor (ERM)
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.
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.
Eurofound (2013), Vilpostus, Bankruptcy in Lithuania, factsheet number 76002, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76002.