Portuguese industry’s model shoe factory to fail: Goldmud (manufacturing 1,300 pairs of shoes a day) goes bankrupt

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They last paid wages to their employees in December; afterwards, starting from January, they “suspended” all contracts (130), while Goldmud, Portugal’s “model” shoe factory (according to some past remarks pointed out by Portuguese press), was facing bankruptcy. As reported by Jornal do Negòcios, the company actually went bankrupt, owing to their overwhelming debts, amounting to around 5,3 million euros. Goldmud, founded in 2007, are currently manufacturing 1,300 pairs of shoes a day. Two years ago, they invested about 1 million euros to relocate the company in a new plant (picture from www.jornaldonegòcios.pt).

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