German church to help insolvent [esoteric] bookseller

Source: Yahoo News

German church to help insolvent bookseller

Associated Press

BERLIN (AP) — Roman Catholic church officials in Germany have agreed to contribute up to 65 million euros ($89 million) to help employees of insolvent bookselling group Weltbild GmbH.
Weltbild, whose owners include 12 Roman Catholic dioceses, applied for insolvency Jan. 10. It pointed to declining sales and projections of lower revenue over the next three years.

The company has more than 6,000 employees in total though not all of its activities are directly affected by the insolvency.

The German Bishops Conference said Tuesday that bishops are aware they share responsibility for the employees. It said an assembly of diocese officials approved providing a maximum 65 million euros to help keep Weltbild’s business going and possibly finance future help for employees.

Get AQ Email Updates

Leave a Reply