Connect with us

Market News

Insolvency Of Neckermann

Published

on

With the insolvency of Neckermann are now 2400 jobs in Germany at risk. Talks with the trade union Verdi have collapsed shortly before the goal.

The owner of Neckermann, Sun Capital, will no longer provide money for further financing as has now become known. The company let it be known that it can not continue under the current circumstances.

According to a Verdi speaker there had been attempts to save the enterprise from an impending insolvency. Among other things, job cuts and severance payments were considered. Shortly before the decisive signature was put on paper, Sun Capital backed out and will no longer provide financial resources. In April of this year, Sun Capital still wanted to invest 25 million, but did not want to pay severance pay or transfer the laid-off employees to a transfer company. This sticking point seems to have been one of the reasons for the failure of the talks.

The traditional company Neckermann was founded in 1950 in Frankfurt and had most recently generated over 80% of its revenues via the Internet. The online store was founded very early in 1995. The trend was recognized in time then and yet Neckermann now has to file for insolvency. In 2007, Neckermann was bought by Sun Capital for the most part and due to the later elimination of Arcandor, the investor then also took over the remaining shares.

Neckermann also entered the travel industry over time, selling insurance and prefabricated houses. Neckermann-Reisen itself no longer has anything to do with the group and is part of Thomas Cook.

Spread the love


Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Trading with financial products (CFDs, Forex, Stocks, Cryptocurrencies, etc.) in general and with leveraged products especially is highly speculative and not suitable for all investors! The loss of your entire investment is possible. Never invest money you can`t risk losing! Decentralized and not regulated cryptocurrency markets are also a high risk and may lead to a significant loss.

Disclaimer

Everything on this site should not be considered as financial or investment advice. This is only a website offering information, EarlyBull is not a registered broker, advisor or analyst. Always do your own research, only you are responsible for your actions. What works for others doesn`t have to work for you.

Advertiser Disclosure

This website contains affiliate links. That means we may receive a commission when you click on links or ads to those products or services, at no additional cost to you.
About Us

EarlyBull is a trading knowledge platform. We create reviews, make easy to follow tutorials and publish the latest industry news. We are committed to high editorial standards to provide our visitors with accurate information and ratings.



Contact Us | Privacy Policy | Credits | Sitemap | Copyright © 2021 EarlyBull.com