Online bookstore Weltbild will cease operations at the end of August
The insolvency administrator cannot save the Augsburg online bookstore. The losses and costs are too high. The employees will receive their dismissals.
The insolvent online bookstore Weltbild will finally cease operations at the end of August. Provisional insolvency administrator Christian Plail announced that the company's 14 branches were still conducting clearance sales and would then be closed. Online purchases would still be delivered until the end of the month. The 440 employees are expected to receive their dismissals in September.
The company filed for insolvency at the Augsburg District Court in June. Plail said: "A sustainable and long-term continuation of operations without fresh capital is not possible due to the ongoing loss situation." The IT and marketing costs and the time required are too high to continue the company profitably.
Despite Weltbild's impending closure, customers can still make online book purchases until the end of August. Unfortunately, the closure of the online bookstores might lead to job losses for the 440 employees by September.
