Bankruptcy of Quickmail cheaper than purchase offer from Germany
For the logistics company Quickmail, bankruptcy is a more favorable option than a purchase offer from Germany. German entrepreneur Rico Back has expressed interest in acquiring Quickmail, as Chairman of the Board of Directors Marc Erni said in an interview.
Back is not a valid alternative for Quickmail because it would put creditors in a worse position than bankruptcy, Erni said in an interview published on Sunday with the SonntagsZeitung.
He had been in contact with Back for over two years. Back had only ever wanted Quickpack. He also had no solution for creditors, but wanted to go through the debt restructuring moratorium so that he could get the business even cheaper, so that the creditors would be much worse off than in the case of bankruptcy.
"I don't see a future for Quickmail," said Erni. The future of parcels is also uncertain. The volume fell again in January and things will not improve in February.
The Competition Commission announced on Friday that Swiss Post would not be allowed to take over Quickmail (Werbewoche.ch reported). An in-depth examination revealed that the takeover would eliminate competition in the market for addressed bulk mail items weighing over 50 grams for business customers, according to the Competition Commission. In addition, Swiss Post would also gain a dominant position in other areas, such as the delivery of newspapers and magazines.
The Quickmail Group, with its two subsidiaries Quickmail and Quickpac, delivers letters, unaddressed items such as advertising flyers, newspapers and magazines as well as parcels throughout Switzerland. According to the company, 3000 jobs are at risk.
Erni described the Weko decision as "naive and irresponsible". The logistics company is in the process of examining possible legal action against the decision. However, it is to be feared that an appeal decision would come too late. (SDA)
