Germania airlines today announced that over a quarter of a million flight bookings with the airline will not be reimbursed or refunded. The flights were cancelled after Germania declared insolvency earlier in the week.
Budget airline Germania has filed for bankruptcy, becoming the latest low-cost carrier to go under after the highly competitive industry suffered from rising fuel prices last year. We broke down some of the challenges facing low-cost airlines and asked if the industry can recover.
Germany's pioneering sex shop chain Beate Uhse said on Friday that it has filed for insolvency, as the empire started by a female Second World War pilot fails to rise to the challenge posed by erotic
e-commerce.
A German court on Monday handed former retail tycoon Anton Schlecker a suspended sentence and jailed two of his children in a high-profile case over their family-owned chain's criminal bankruptcy.
People who booked with Air Berlin back in July thought they were saving themselves money by planning ahead. Now, they have been left with the cost of buying flights close to departure day with no compensation in sight.
Bankrupt German airline Air Berlin must ground all flights by the end of October, the firm said Monday, as talks continue with prospective buyers Lufthansa and Easyjet.
Former German retail tycoon Anton Schlecker went on trial Monday, five years after his drugstore chain collapsed, accused of having stashed away millions in corporate assets before the bankruptcy.
Work on Berlin's much-delayed new BER airport has suffered another setback as builders had to down tools on Monday over fears that the roof could not support the air conditioning units that have been installed.
One of Germany's original electronics makers, Loewe, said on Tuesday it had filed for bankruptcy. The household name did voice hope that an investor could come to its rescue.
Hardware store chain Max Bahr declared insolvency on Thursday, just weeks after its huge parent firm Praktiker went under. The chain was, experts thought, going to be safe from the collapse.
Loewe, Germany's last major manufacturer of high-end televisions, is fighting for survival in a sector increasingly dominated in recent years by Asian rivals, filing for protection from its creditors as it hunts for new investors.
Companies run by women are less likely to go bankrupt thanks to their holistic approach to business, a study from the German finance ministry suggested on Tuesday.
Around 2,400 people working at bankrupt mail order business Neckermann were preparing to lose their jobs Wednesday, after insolvency administrators said they were going to liquidate the company.
Prosecutors investigating drugstore founder Anton Schlecker suspect him of having paid his wife €60,000 a month for years leading up to the Schlecker bankcrupcy, <i>Der Spiegel</i> magazine wrote on Sunday.
More than five million people went shopping at drugstore chain Schlecker in July - to take advantage of its closing down sale as the national chain hit bankruptcy and shut up shop.
Germany's original mail-order clothing firm Neckermann filed for bankruptcy on Wednesday after its investor refused to finance its restructuring, putting 2,400 jobs at risk. It adds to the dismal retail industry news in the country.
The collapse of drug store chain Schlecker became the focus of a criminal investigation on Wednesday after police raided more than 20 homes and offices, including the villa of company founder Anton Schlecker.
Thousands of Schlecker shops, once Germany's largest drug store chain, closed its doors for the last time on Wednesday afternoon, pushing thousands of people out of work.
As around 10,000 workers at drugstore chain Schlecker found dismissal letters in their post boxes on Friday, Chancellor Angela Merkel’s coalition was riven by the refusal of her partner party to support a programme to help staff.
Around 11,000 employees of bankrupt German drug store chain Schlecker faced being sacked without compensation Thursday morning as a deadline passed for creating a rescue company to help them.
Despite Germany’s continuing economic strength, the number of people declaring bankruptcy is increasing among the young and the elderly – a worrying sign according to one of the country’s top credit rating agencies.
The official insolvency procedures of energy firm TelDaFax have begun in a Bonn court, but refunds appear to be a pipe dream for most of the failed utility's 700,000 former customers.
