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.
Printer Portuguesa, a Portuguese printer, is in a process of insolvency, involving 123 workers.
The Secretary of State for Labour, Solidarity and Social Security declared that the salaries of the company are regularised until March, with those of April and May still owed.
The president of the company stated that the company was harmed by external factors, and its accounts were seized by the court.
Two of the 123 workers have suspended their contracts. The Union expects that around 60 more workers would also request the suspension of their contracts, in order to obtain the benefits provided by Law 105/2009 of 14 September (updated version). this Law establishes that when the worker suspends his/her employment contract, he/she is entitled to: * Unemployment benefits (Art. 25) * Suspension of tax enforcement proceedings (Art. 26) * Suspension of the sale of assets pledged or given as security (Art. 27) * Suspension of enforcement of the eviction judgement (Art. 28) * Payment of rent arrears (Articles 29 to 31).
Additionally, the insolvency could affect nearly 380 indirect jobs in the Sintra region.
Eurofound (2024), Printer Portuguesa, Closure in Portugal, factsheet number 201298, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/201298.