Publicitas postpones deadline for publishers' consent by four days
Advertising marketer Publicitas, which is in deep financial difficulties, has asked Swiss publishers to give their consent to the restructuring package by May 10. According to the Handelszeitung, Publicitas has now extended this deadline to May 14.
Reason: increased time pressure due to the short working week. So far, the feedback from the publishing houses has not been very positive. Elisabeth Aubonney, Head of Communications at Publicitas, says: "We have received feedback, but not yet any formal reactions."
Last week, the Publicitas management showed the publishers how the company intended to rescue itself from its financial problems. The publishers are to take a 50 percent stake in Publicitas. If this proposal does not materialize, the air will become thin (Werbewoche.ch reported). The Bülach District Court expects to receive feedback on the publishers' willingness to cooperate by May 18. The court has granted Publicitas a provisional debt-restructuring moratorium.
