Moviflor

Type
Internal restructuring
Country
Portugal
Region
Location of affected unit(s)
Sector
Wholesale / Retail
46 - Wholesale trade
46.1 - Wholesale on a fee or contract basis
46.15 - Activities of agents involved in the wholesale of furniture, household goods, hardware and ironmongery
200 jobs
Number of planned job losses
Job loss
Announcement Date
24 October 2013
Employment effect (start)
6 November 2013
Foreseen end date

Description

Moviflor, retailer of furniture and decoration, is likely to make 325 workers redundant in Portugal.

This follows the approval of a special financial rescue plan (Plano Especial de Revitalizacao, PER) by the company’s creditors. The plan requires 325 dismissals and is to save 540 jobs in the country.

Updated, 18/08/2014 - According to latest news reports, Moviflor still is under a special financial rescue plan. According to a trade union (CESP) 200 workers have lost their jobs during this process. Currently, Moviflor has more 500 workers and is trying to reach to an agreement with a foreign investor to rescue the company.

Sources

  • 6 November 2013: Público
  • 24 October 2013: Portuguese Independent News
  • 28 July 2014: Público

Citation

Eurofound (2013), Moviflor, Internal restructuring in Portugal, factsheet number 76251, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76251.