Uncertain RMB future
Sales negotiations are stalling; RMB Germany is insolvent
Sales negotiations dragging on, RMB Germany insolventThe future of RMB International, the Belgian cinema, TV and radio marketer, and its European network remains unclear. It is true that RMBI spokesman Eric Gouder de Beauregard stated as late as May 3 that the contract between RMBI and French electronics manufacturer Thomson Multimedia for some ten RMBI subsidiaries could be signed on May 4, or at best on May 6. But that was not the case - so the date was postponed to Wednesday, May 8. However, this date should be treated with caution, as there was already talk at the beginning of April that the contract would soon be signed. Negotiations have been going on for at least three months. Thomson Multimedia has so far remained silent on the matter (WW 8/02 and 13/02).
Part of the RMBI network, the subsidiaries RMB Switzerland and Austria, is being negotiated separately - and has been since the beginning of the year. An agreement has already been reached there, according to reports in the industry. Gouder, for his part, speaks of "almost finished," but because several negotiating partners are involved, it will take a little longer. Matthias Luchsinger, CEO of RMB Switzerland, did not want to comment on this last Friday - and went on vacation.
In the meantime, however, RMB Germany, which as a former RMB subsidiary had already been separated from the RMBI network and sold at the end of 2001, has filed for insolvency. Andreas Goebel, Director National Sales, confirmed this to the trade journal Media&Marketing and described the measure as purely precautionary. In any case, the business operations of Germany's second-largest cinema marketer would continue. One of the reasons for the insolvency was a sum of money that RMBI still owed its former subsidiary.
That makes one prick up one's ears. Is RMB Switzerland also on such shaky financial ground - regardless of current or future ownership? "I don't give any information about RMBI's internal accounting," says Luchsinger. However, he points out that since the beginning of the year, a holding company called RMB AG (where Luchsinger is a member of the board of directors) has been inserted between RMB Switzerland and RMBI, which is why RMB Switzerland is better secured than RMB Germany. Furthermore, RMB Switzerland has no outstanding invoices with the insolvent RMB Germany.
Luchsinger also cast doubt on the fact that RMBI still owes money to its former German subsidiary. "I would point out that despite its poor financial situation, RMBI is neither bankrupt nor insolvent. So if there are outstanding invoices, they can be claimed in the normal way. Why is RMB Germany not doing this?" Markus Knöpfli
Part of the RMBI network, the subsidiaries RMB Switzerland and Austria, is being negotiated separately - and has been since the beginning of the year. An agreement has already been reached there, according to reports in the industry. Gouder, for his part, speaks of "almost finished," but because several negotiating partners are involved, it will take a little longer. Matthias Luchsinger, CEO of RMB Switzerland, did not want to comment on this last Friday - and went on vacation.
In the meantime, however, RMB Germany, which as a former RMB subsidiary had already been separated from the RMBI network and sold at the end of 2001, has filed for insolvency. Andreas Goebel, Director National Sales, confirmed this to the trade journal Media&Marketing and described the measure as purely precautionary. In any case, the business operations of Germany's second-largest cinema marketer would continue. One of the reasons for the insolvency was a sum of money that RMBI still owed its former subsidiary.
That makes one prick up one's ears. Is RMB Switzerland also on such shaky financial ground - regardless of current or future ownership? "I don't give any information about RMBI's internal accounting," says Luchsinger. However, he points out that since the beginning of the year, a holding company called RMB AG (where Luchsinger is a member of the board of directors) has been inserted between RMB Switzerland and RMBI, which is why RMB Switzerland is better secured than RMB Germany. Furthermore, RMB Switzerland has no outstanding invoices with the insolvent RMB Germany.
Luchsinger also cast doubt on the fact that RMBI still owes money to its former German subsidiary. "I would point out that despite its poor financial situation, RMBI is neither bankrupt nor insolvent. So if there are outstanding invoices, they can be claimed in the normal way. Why is RMB Germany not doing this?" Markus Knöpfli
