Type
Bankruptcy
Country
Germany
Region
Thüringen; Ilm-Kreis;
Location of affected unit(s)
Ilmenau
Sector
Manufacturing
Manufacturing Of Furniture And Other Manufacturing
Other Manufacturing
32 - Other manufacturing

220 jobs
Number of planned job losses
Job loss
Announcement Date
30 July 2014
Employment effect (start)
30 July 2014
Foreseen end date
31 October 2014

Description

As announced on 30 July 2014, German glass manufacturer Technische Glaswerke Ilmenau is to dismiss all of its 220 employees by October 2014. The company has filed for bankruptcy in May and failed to find an investor. According to the insolvency administrator a social plan including severance payments for the dismissed has been set up with a budget of €1.3 million .


Sources

  • 30 July 2014: Thüringer Allgemeine Online

Citation

Eurofound (2014), Technische Glaswerke Ilmenau, Bankruptcy in Germany, factsheet number 77378, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77378.