Luxembourg's strategically important company went bankrupt
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On 29 November 2024, the Luxembourg Commercial Court officially declared the bankruptcy of Liberty Steel Dudelange, confirming the group's inability to meet its financial obligations. This judgement marked the end of a long crisis, but also opens up new perspectives for employees and the company itself.
For more than two years, the Dudelange plant has been stagnating. Operations were suspended due to a lack of funding, while workers continued to maintain the infrastructure despite irregular pay.
The situation escalated in autumn 2024 when salaries for October and November, as well as annual bonuses, were not paid on time. In the run-up to the holidays, this led to growing resentment among employees and forced the OGBL trade union to go to court to protect their rights.
Liberty Steel, which has long been hit by financial scandals, has been unable to fulfil its obligations to either employees or creditors. Hundreds of millions of euros of debts in Luxembourg made bankruptcy inevitable, jeopardising the future of the plant's 150 employees.
The declaration of bankruptcy opened up the possibility of compensation under Luxembourg law. In addition, the appointment of a supervisor creates the basis for negotiations with potential investors. State and economic intervention will be key in this process in order to save jobs and restart production.
The OGBL trade union is actively involved in defending the interests of employees, emphasising the importance of preserving the plant as a strategic facility for the country.
The revitalisation of the Dudelange plant requires serious investment and support from the authorities. This would not only be an opportunity to save 150 jobs, but also an important step to strengthen Luxembourg's industrial sector.
