Business news: German publishing house Gestalten has entered into voluntary insolvency after losing money on a concept store in Berlin.
The company, which publishes books about architecture, design and other creative disciplines, made the declaration after failing to secure an extended credit line from its bank.
“I had to apply for insolvency otherwise I could have run into a personal liability that could have put me in jail,” Gestalten CEO Robert Klanten told Dezeen.
Gestalten found itself short of cash after running into problems with Space Berlin, a concept store it operated on the top floor of the Bikini Berlin retail and leisure complex in the German capital.
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Read the full article at: http://www.dezeen.com/2016/09/02/german-design-publisher-gestalten-insolvency-declaration-news/
