EMCC European Monitoring Centre on Change

Color Textil

Company/Organisation:
Color Textil

Geographic Location

Country: Germany
Region: Chemnitzer Land; Chemnitz; Sachsen
Location of affected unit(s): Frankenberg

Company

Sector: Manufacturing
Manufacture of textiles, apparel, leather and related products
13.9 - Manufacture of other textiles
Number Employed: 150
Group: Peppermint

Employment Effects

Announcement Date: 21-09-2017
Planned Job Reductions min: 150
Planned Job Reductions max: 150
Type of Restructuring: Closure
Employment Effect Start: 21-09-2017
Other Job Reduction Measures: 150

Additional Information

On 21 September 2017, the German textile company Color Textil confirmed the closure of its factory in Frankenberg, resulting in the loss of 150 jobs. In March 2017, a large part of the factory was destroyed in a fire causing a halt in production. Due to financial difficulties which are a result of a decreased number of orders as well as tough insurance negotiations, the factory will not be rebuilt and officially shut down.

Management announced that the job reduction will be socially acceptable and according to a social plan which will be negotiated as soon as possible.