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.
Mina Chukurovo AD announced at the beginning of January 2015 that it is going to let go of between 120 and 150 employees of a total of 165 staff employed in the village of Gabra, municipality of Elin Pelin in Sofia region in early February 2015.
On December 17 2014 the procedure for suspension of operation of the company for a period of more than 15 days was initiated. Those continuing to work in the mine afterwards will mainly deal with maintenance and security.
Mina Chukurovo is the oldest coal / lignite mine in Bulgaria and has been among the main suppliers of thermal power plant Bobov Dol. As reported, the National Electric Company has decided to stop purchasing electricity from TPP Bobov Dol . It is likely also that Mina Chukurovo had exhausted its possibilities for lignite extraction.
Media reported that the data from the Commercial Register in 2012 showed a decline in revenue compared to the previous year and a sharp increase in the operating loss. At the insistence of the Minister for the Economy on December 29, 2014, the management of the enterprise was obliged to pay an advance for the month of December as mine employees had not received salaries for months.
Management and the Confederation of independent trade unions in Bulgaria (CITUB) and the Ministry of Energy are seeking a solution to reopen the mine during 2015.
Eurofound (2015), Mina Chukurovo/Chukurovo Mine, Closure in Bulgaria, factsheet number 78097, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78097.
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