EMCC European Monitoring Centre on Change

Vegrad Inde

Company/Organisation:
Vegrad Inde

Geographic Location

Country: Slovenia
Region: Savinjska; Slovenija
Location of affected unit(s): Velenje

Company

Sector: Construction
Construction
42 - Civil engineering
Number Employed: 142
Group: Vegrad

Employment Effects

Announcement Date: 26-10-2010
Planned Job Reductions min: 142
Type of Restructuring: Bankruptcy
Employment Effect Start: 31-10-2010
Foreseen End Date: 01-11-2010

Additional Information

On 26 October 2010 Vegrad Inde, a part of the Vegrad construction group located in Velenje in the Savinjska region, announced its bankruptcy and the dismissal of 142 employees. The reason for bankruptcy is the economic recession and lackluster housing market.