Country’s largest textile producer closes down one of its branches

The Czech textile producer Odevní Podnik (OP), which is threatened by bankruptcy, will be closing down its location in the Moravian city of Jeseník, where 290 of the companies’ roughly 1500 employees work. In addition, some 300 employees of OP’s main branch in Projestov will lose their job. OP has made losses of 104 million Czech crowns in the first three months of 2010 alone and is about 1.6 billion crowns in debt. While it the company not yet announced bankruptcy, OP executives say it is likely. OP is the Czech Republic’s largest textile producer.

Author: Sarah Borufka