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Votec on Thin Ice

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BRETTEN, Germany (October 30) – I.B.I. , the company behind the VOTEC brand has been forced to apply for a Chapter 11. Reasons appear to be the obligations that were accepted when the company changed hands in 2001 and the dependence on outside suppliers. A rescue-plan involving workers wage-donations has been rejected by the banks. […]

BRETTEN, Germany (October 30) – I.B.I. , the company behind the VOTEC brand has been forced to apply for a Chapter 11. Reasons appear to be the obligations that were accepted when the company changed hands in 2001 and the dependence on outside suppliers. A rescue-plan involving workers wage-donations has been rejected by the banks. (MH)

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