Geminus

Type
Bankruptcy
Country
Belgium
Region
Région wallonne; Prov. Brabant wallon; Arr. Nivelles
Location of affected unit(s)
Nivelles
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
127 jobs
Number of planned job losses
Job loss
Announcement Date
23 March 2011
Employment effect (start)
23 March 2011
Foreseen end date

Description

Geminus, a Belgian manufacturer of electrical material, is facing bankruptcy and 127 jobs will be lost. The company has been in financial difficulties for four years.

The deadline to find a new buyer is 28th March but unions and management are sceptical. The Christian Union would like the region to invest again and become the principal shareholder but SOGEPA management already contradicts. They are allowed to invest only on the region demand.

Union are now seeking help from government to save the company via an employer group and the sector federation.

Sources

  • 23 March 2011: La Libre

Citation

Eurofound (2011), Geminus, Bankruptcy in Belgium, factsheet number 71787, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/71787.