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.
South East; Hampshire and Isle of Wight; Hampshire CC
Location of affected unit(s)
Church Crookham
Sector
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26.3 - Manufacture of communication equipment
200 jobs Number of planned job losses
Announcement Date
11 July 2017
Employment effect (start)
Foreseen end date
Description
Manufacturer of Luxury mobile phones Vertu has been liquidated with the loss of 200 jobs. The company, which was previously part of the Nokia group, specialised in producing luxury mobile phones - for example by encasing the phones in jewels and precious metals. The company was already in administration and attempts were made to save it, including by reducing the costs of the handsets, though ultimately these efforts were unsuccessful. The manufacturing arm, based in Church Crookham in Hampshire will now close, though the Vertu brand will be retained by the owner.
Sources
12 July 2017: Financial Times
11 July 2017: The Telegraph
Citation
Eurofound (2017), Vertu, Bankruptcy in United Kingdom, factsheet number 91658, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91658.
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