What is a plant closure?
A business closure, often also referred to as a plant shutdown, is the final abandonment of the purpose of the business, in the context of which the organization of the business is dissolved at the same time. A business is considered to be a spatial and organizational unit. A classic example of a plant closure is a production plant or a branch in a particular city that is closed by the company management. A business closure does not necessarily mean the insolvency or closure of an entire company.