Free newspaper .ch deposits balance sheet
The Punkt ch Board of Directors has filed the balance sheet. The Zurich District Court is now expected to declare Punkt ch bankrupt and refer the case to the appropriate bankruptcy office.
The publisher of the free newspaper .ch, Punkt ch AG, which was discontinued at the beginning of May, has gone bankrupt. The Board of Directors filed the balance sheet, as announced on Wednesday. The investors want to ensure that the employees do not suffer any financial losses.
The Zurich district court will now open bankruptcy proceedings against the company. The case will then be referred to the competent bankruptcy office, the statement continues.
The investors had voluntarily decided to ensure that the employees of Punkt ch AG would not suffer any financial losses. In this context, they are also prepared to make up the shortfall in the pension fund. According to the press release, hardship cases among the workforce have already been settled.
The free newspaper .ch was discontinued on May 4 due to the drastic deterioration in the economic environment. After efforts to save the company had failed, the Board of Directors of Punkt ch AG was legally obliged to file the balance sheet in view of its over-indebtedness. The closure of the newspaper affected 69 employees (61 full-time positions), 20 of whom were hardship cases. There was no social plan for the mass redundancies.
The commuter magazine, which was first published in mid-September 2007, was discontinued after around one and a half years.
The Zurich district court will now open bankruptcy proceedings against the company. The case will then be referred to the competent bankruptcy office, the statement continues.
The investors had voluntarily decided to ensure that the employees of Punkt ch AG would not suffer any financial losses. In this context, they are also prepared to make up the shortfall in the pension fund. According to the press release, hardship cases among the workforce have already been settled.
The free newspaper .ch was discontinued on May 4 due to the drastic deterioration in the economic environment. After efforts to save the company had failed, the Board of Directors of Punkt ch AG was legally obliged to file the balance sheet in view of its over-indebtedness. The closure of the newspaper affected 69 employees (61 full-time positions), 20 of whom were hardship cases. There was no social plan for the mass redundancies.
The commuter magazine, which was first published in mid-September 2007, was discontinued after around one and a half years.
