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.
One of the biggest furniture producers in Lithuania Narbutas & Ko announced its bankruptcy on 8 May 2009. All 530 employees have been dismissed. The main cause of the bankruptcy was the lack of current capital and sharply decreased number of orders. According to the management, the prognoses for the demand for the company's production were too optimistic. The company invested over 75 million LTL for the construction of new factory in Ukmerge in July 2008.
Eurofound (2009), Narbutas & Ko, Bankruptcy in Lithuania, factsheet number 68564, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/68564.