Type
Bankruptcy
Country
Sweden
Region
Södra Sverige; Västsverige; Västra Götalands län
Location of affected unit(s)
Orust
Sector
Construction
42 - Civil engineering
42 - Civil engineering
42 - Civil engineering

120 jobs
Number of planned job losses
Job loss
Announcement Date
9 August 2011
Employment effect (start)
9 August 2011
Foreseen end date

Description

On 9th August 2011, Najadvarvet AB submitted a petition for bankruptcy to the District Court of Uddevalla and informed all 120 employees about it. The company has suffered a major liquidity crisis due to its low sales numbers and misguided ventures of its former owner as well as due to the long-term decline in demand in the boat industry and the on-going difficulties in the financial markets globally, all of which led to the announced bankruptcy.


Citation

Eurofound (2011), Najadvarvet, Bankruptcy in Sweden, factsheet number 72338, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72338.