Latest news and stories about restructuring in Portugal for expats and residents.
Telecommunications company Meo has been granted the status of a company in restructuring by the government, a move that facilitates the termination of employment contracts. The company plans to reach agreements for the departure of 1,200 workers by the end of the year, allowing for mutual agreements that include unemployment benefits beyond standard legal quotas.
The appointment of a management committee is expected. Employees remain without their overdue salaries. The administration is seeking a solution to make the project viable. Sérgio Figueiredo resigned in July.
The company requested restructuring status last year and saw the application approved by the Ministry of Labour, Solidarity and Social Security in January.
Gato Preto will cease operations in Spain, where it has eight stores, in a “measure considered essential” to ensure the viability of its business in Portugal, the company told ECO. The homeware and décor chain, which celebrates 40 years this year, submitted its recovery plan this Friday to ...
