Photon Europe still publishing despite insolvency proceedings – report

(SeeNews) - Dec 17, 2012 – The preliminary insolvency proceedings for German publisher Photon Europe GmbH will not thwart its operations, which will run forward as planned, daily Oekonews reported on Saturday, citing provisional liquidator Andre Seckler.

The next issue of photovoltaic magazine Photon will thus appear in January within schedule, while the publisher will also continue to regularly publish news from the solar sector online, Seckler was cited as saying.

The insolvency administrator is currently examining the financial situation of Photon Europe, in order to elaborate on a restructuring plan. An initial inspection revealed that the company may need external financing to safeguard its future business. Some investors have already indicated their interest and negotiations are to begin shortly, Oekonews further said.

Seckler has also arranged for the pre-financing of the insolvency funds for the employees. The latter voiced at a meeting their trust in the company and their willingness to partake in the restructuring.

The District Court in Aachen opened preliminary insolvency proceedings for Photon Europe last week, after the company filed for insolvency.

Photon Europe’s publications include PV magazines Photon, Photon International and Photon Profi.

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