EMCC European Monitoring Centre on Change

Zambrowskie Zakłady Przemysłu Bawełnianego Zamtex

Company/Organisation:
Zambrowskie Zakłady Przemysłu Bawełnianego Zamtex

Geographic Location

Country: Poland
Region: Lomzynski; Podlaskie; Wschodni
Location of affected unit(s): Zambrów

Company

Sector: Manufacturing
Manufacture of textiles, apparel, leather and related products
13 - Manufacture of textiles
Number Employed: 137

Employment Effects

Announcement Date: 02-02-2011
Planned Job Reductions min: 137
Type of Restructuring: Bankruptcy
Employment Effect Start: 01-03-2011
Direct Dismissals: 137

Additional Information

Polish textile producer Zambrowskie Zakłady Przemysłu Bawełnianego Zamtex announced the bankruptcy of its factory in Zambrów. All 137 workers will be dismissed. The factory was closed on 28 February 2011. The company decided to take out two loans - for salaries not yet paid and for severance pay equal to three months' wages. The closure of the factory was attributed to Zamtex's bad financial situation - the company has about 30 million PLN debts.

Zamtex has been operating in Poland since 1954. In the socialist times it was one of the biggest company in the region.