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.
Retail Wholesale Trade, Except Of Motor Vehicles And Motorcycles Wholesale On A Fee Or Contract Basis 46.15 - Agents involved in the sale of furniture, household goods, hardware and ironmongery
200 jobs Number of planned job losses
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://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76251.
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