Vertu closes production in the UK, laying off 200 employees
Vertu is forced to liquidate the production unit, located in the UK. The reason was financial problems.
The current owner of the brand attempted to save the production, but the proposed plan and in the amount of 1.9 million pounds, did not find understanding from the judge, the leading case on bankruptcy. This is logical, given that the budget deficit of the company is 128 million pounds sterling.
Without production, Vertu, most likely, will sink into oblivion.
Vertu was founded in 1998 and was originally the brand name of luxury models produced Nokia. In 2012 the Finnish manufacturer was forced to sell Vertu. Since then, the owner of Vertu had to change several times. Last time this happened was in March of this year.
Source: GSM Arena