German distributor KNV files for insolvency

German distributor KNV files for insolvency

The upheaval in the German book industry is continuing with wholesaler KNV Gruppe filing for insolvency yesterday (Thursday 14th February). The move didn’t come out of the blue: for months speculation has been rife that the Stuttgart-based company was heavily losing money and heading into financial crisis. Expectations are that the insolvency administrator will keep the business open while looking for a buyer.

During the day it emerged that Germany’s largest wholesaler and distributor had been in talks with an outside investor for some time. According to managing partner Oliver Voerster, w...

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