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Weltbild Files For Insolvency

Posted at 9:09AM Saturday 11 Jan 2014

Roman Catholic Church-owned bookseller Weltbild, which competes with online retailer Amazon.com in Germany, filed for insolvency on Friday after its sales shrank and it unexpectedly found itself unable to obtain fresh financing.

Unlisted Weltbild, which has 6,800 employees, has been posting losses as it invests in a shift to more internet-based business.

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vcpost.com

Reuters




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