The factory, located in Székesfehérvár, will close on July 27 and all 250 employees will be laid off. Still, there is a chance the factory could be sold to a professional investor who could take on some of the laid off workers, the paper said.
Cortefiel has also operated a logistics and administrative center in Székesfehérvár. Grupo Cortefiel bought the Székesfehérvár factory for $1.3 million from a French owner in 1999, when it was put up for liquidation. It spent a further Ft 100 million on developments at the factory.
Grupo Cortefiel will continue to operate its other two units in Hungary: Women’s Secret Magyarország Kft and Springfield Hungary Kft. Together, the units employ 80 people.
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