In comments regarding the layoffs announced on August 29 at two companies in Santo Tirso, Francisco Vieira explained that the plan includes the closure of two factories, debt renegotiation with banks through Special Revitalization Processes (PER), insolvency filings in certain units, and asset sales, aiming to focus on more profitable areas.
The union representative stated that the insolvency filing was submitted to the Guimarães Court on August 26.
In a statement sent to the press, the administration noted that the group “initiated the implementation of a Strategic Restructuring Plan, aligned with the strategy of its main clients, which aims to adjust its industrial and organizational structure to the current demands of the global market, enhancing its focus on agility, efficiency, and value creation.”
The unionist expressed, “the two companies that filed for insolvency have ceased operations,” acknowledging that the insolvency declaration could come “at any moment.”
Addressing speculation about further insolvency or revitalization processes within the Polopiqué group, Francisco Vieira reported receiving information from the companies’ lawyer that there will be no more such cases.
“The information relayed to us is that in the two companies undergoing special revitalization processes, salaries and benefits are up to date, though I maintain some reservations, as this does not match the information I have. We are aware that workers from other companies went on vacation, returned to work, and had not received their holiday allowances. This requires objective confirmation,” he added.
The union president informed that on Friday, “70% of the salaries will be deposited into the accounts of Polopique Tecidos SA workers” because the company received “a significant amount that will allow for only 70% payment,” emphasizing that the transaction “needs to be executed swiftly to prevent the appointment of an insolvency administrator, as once appointed, no further payments can be made.”
According to the company, the Strategic Restructuring Plan envisions “concentrating production capacity in units with higher operational yield and flexibility, closing garment and fabric weaving units, and enhancing strategic external subcontracting, particularly in the garment sector, while maintaining high quality and control standards.”
The plan also involves the downsizing of the organizational structure—ensuring a more agile and demand-aligned operation—laying off 274 employees with all legal rights preserved, the sale of non-essential assets to redirect resources toward future investment and innovation, and strengthening strategic partnerships with key clients to ensure operational stability and sustainable growth over the medium and long term.
