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 For Transport Equipment Manufacture Of Other Transport Equipment 30.11 - Building of ships and floating structures
1,118 jobs Number of planned job losses
Announcement Date
13 May 2019
Employment effect (start)
15 May 2019
Foreseen end date
14 June 2019
Description
The Commercial Court in Pazin opened bankruptcy proceedings in Pula's Uljanik shipyard on 24 April 2019. Uljanik has 1,118 workers: 1,058 in Pula and 60 in Rijeka and all of them will be dismissed. Uljanik's account has been frozen for 231 days up to now. According to the latest Financial Agency (Fina) figures, the dock's debt totals HRK 164.8 million (€22.1million), including HRK 76.5 million (€10.2 million) of workers' wages which are still due.
Over the past month, bankruptcy proceedings have been opened in four other companies of the Uljanik shipbuilding group. Motions for launching bankruptcy proceedings in the group's companies have been filed by Financial Agency (Fina) because their bank accounts have been frozen over 120 days. Fina filed the motion for the Uljanik shipyard at the end of January 2019 because its account was frozen for a debt of HRK 75.9 million (€10.1 million). This bankruptcy will affect the entire Croatian economy.
Uljanik has been an economic and cultural symbol of Istria and has provided livelihood for thousands of families for 163 years.
Sources
Citation
Eurofound (2019), Uljanik, Bankruptcy in Croatia, factsheet number 97728, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/97728.
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