Vertu has decided to close the production unit, located in the UK. The reason was financial problems.
In March this year, Chinese owners of Vertu resold the business of luxury phones Turku Hakan Usano for $61 million But it did not save the company from bankruptcy: of the 128 million pounds of debt Susan will be able to pay only 1.9 million ($2.4 million).
The current owner of the brand attempted to save the production, but the plan proposed by it and the amount was not appreciated by the judges, the leading case on bankruptcy. This is logical, given that the size of the budget deficit of the company.
The liquidation units will be the closure of production facilities company in the UK and the loss of jobs for 200 people. Among these employees are not just assemblers on the line, and people who know how to work with materials such as gold, diamonds, snakeskin and ostrich skin. That is quite a qualified staff.
Of course, these gadgets were rather a work of art, while their filling consisted of antique parts of the smartphone market.
Deprived of production capacity, the Vertu is likely to sink into oblivion.
Vertu was founded in 1998 and was originally the brand name of luxury models produced Nokia. In 2012 the company was sold to the Swedish group EQT VI for 200 million euros. Three years later — a Chinese firm Godin Holdings, of which Vertu and moved to Turku.