WUS: The Rise & Fall Of Fortis

WUS: The Rise & Fall Of Fortis

Postby TemerityB » January 26th 2018, 10:55am

Just posted at WUS, written in their usual dry, fawning style; this is the capper on the article:

Sadly, on November 24, 2017, Swiss newspapers reported that Fortis is about to fold. Fortis is in financial difficulties and has applied for the definitive moratorium (definitive Nachlassstundung in Swiss). The moratorium was approved by the Civil Court of Solothurn-Lebern on 20 November. It extends over six months and lasts until May 20, 2018. As part of the moratorium, a debt restructuring agreement may be negotiated with the creditors to provisionally secure the legal or economic existence of the company. During the probate proceedings neither bankruptcy nor enforcement on seizure or pledge are possible.

We wish FORTIS all the best!


I only hope Fortis doesn't end up in the hands of ... well ...

http://www.watchuseek.com/flieger-frida ... ll-fortis/
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Re: WUS: The Rise & Fall Of Fortis

Postby koimaster » August 31st 2018, 8:41am


Andreas Bentele
Marketing & Sales Director at Fortis Uhren AG



Dear FORTIS-FRIENDS, here is the official press release regarding the current media rumors:

Press release concerning FORTIS UHREN AG

FORTIS UHREN AG has voluntarily applied for a temporary composition, which has been approved by the court of Solothurn on the 20 November 2017.
The intention of this composition is to enable the company to continue its restructuring program and ensure enough liquidity to do so and thus enable the healthy contingency of the company.
Contrary to media reports the company is NOT experiencing any acute liquidity problems, as in that case a composition would not have been granted by the courts.
The company’s board of directors has taken this measure to ensure the legal and economical long term existence of the company and protection of its suppliers.
ALL operational sides of the business will continue as usual and will not be affected by this measures. There will be NO layoffs at the company to ensure just that.

FORTIS UHREN AG
Best regards,
The whole FORTIS TEAM
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Re: WUS: The Rise & Fall Of Fortis

Postby TemerityB » August 31st 2018, 4:17pm

All these closings and near-deaths are becoming a blur. So Fortis soldiers on ... but has Eterna stopped producing new watches? Am I understanding all this correctly?
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