EMCC European Monitoring Centre on Change

MTB

Company/Organisation:
MTB

Geographic Location

Country: Slovenia
Region: Podravska; Slovenija
Location of affected unit(s): Maribor

Company

Sector: Construction
Construction
42 - Civil engineering
Number Employed: 120

Employment Effects

Announcement Date: 09-03-2011
Planned Job Reductions min: 120
Type of Restructuring: Bankruptcy
Employment Effect Start: 09-03-2011
Foreseen End Date: 31-03-2011

Additional Information

Construction company MTB filed for bankruptcy and all 120 employees will lose their jobs. The company has approximately EUR 9 million unsettled claims. The company's CEO announced that negotiations with banks to secure financial resources for the company's operations were not successful.