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.
Yarn and fabric manufacturer, Aquasava, which is located in Kranj, is to close with the loss of 370 jobs. The Italian owners, Gruppo Bonazzi, cited competition from the Chinese and rising energy prices as well as the discontinuation of a contract with an important Pakistani client as reasons for the closure. All the employees will be dismissed by the end of October 2008. The workers were promised to receive EUR 1.2 million of compensation. Aquasava manufactures cotton yarns, cotton grey fabric, synthetic and mixed grey fabrics.
Eurofound (2008), Aquasava, Closure in Slovenia, factsheet number 67039, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67039.