Almaco

Type
Bankruptcy
Country
Greece
Region
Voreia Elláda; Kentriki Makedonia; Kilkis
Location of affected unit(s)
Nea Santa Kilkis
Sector
Manufacturing
(24 - 25) Manufacture of metals
25 - Manufacture of fabricated metal products, except machinery and equipment
25 - Manufacture of fabricated metal products, except machinery and equipment
110 jobs
Number of planned job losses
Job loss
Announcement Date
13 June 2014
Employment effect (start)
13 June 2014
Foreseen end date

Description

Almaco, a Greek industrial company in the field of aluminium extrusion, anodisation and electrostatic paint filed for bankruptcy. 110 employees lost their jobs at its manufacturing site in Kilkis.

Almaco, which has been operating since 1977, faced serious problems at the beginning of the economic crisis due to a sharp drop in construction activities. As reported, the company owes accrued and redundancy payments (up to € 2,1 million).

Sources

  • 13 June 2014: Makedonia
  • 13 June 2014: Voria

Citation

Eurofound (2014), Almaco, Bankruptcy in Greece, factsheet number 77190, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77190.