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.
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Leather And Related Products 15.20 - Manufacture of footwear
156 jobs Number of planned job losses
Announcement Date
18 January 2016
Employment effect (start)
3 February 2016
Foreseen end date
3 February 2016
Description
Peko is a Slovenian footwear producer founded in TržiÄ (Gorenjska region) at the beginning of the last century. On Tuesday, 19 January 2016, the company management has initiated the bankruptcy procedure. Banks, Peko’s main creditors, refused the latest restructuring programme for the recapitalization of the company. Consequently, Slovenian Sovereign Holding (SDH) and Consulting and Management Company (DSU), the two state agencies which are the majority owners of Peko, decided not to participate in the recapitalization of the company. As the management explained, there was no other option than bankruptcy.
Workers renounced to holiday allowances and agreed to be paid in instalments in order to help Peko not to close. However, this was not enough to save the company therefore all 156 employees will lose their jobs.
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Sources
19 January 2016: Delo
18 January 2016: MMC RTV SLO
19 January 2016: Dnevnik
19 January 2016: Delo
Citation
Eurofound (2016), Peko, Bankruptcy in Slovenia, factsheet number 86225, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86225.
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