Germany’s big bookseller Weltbild has filed for bankruptcy reorganization following longstanding disagreement among the 12 Catholic diocese that own the company on how to finance it, exacerbated by declining sales in the second half of 2013. The company said in a statement, “The lower level of sales expected for the next three years as well doubles the amount of financing needed until the company is restructured.” Reuters says that the filing “does not affect the bookstores,” referring to their half-ownership of Germany’s second largest book chain, which includes the Hugendubel stores. They have been the second-largest online bookseller in the […]
