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Philion to file for insolvency along with subsidiaries Fexcom, OBS

Monday 26 October 2020 | 16:26 CET | News
German mobile retailer Philion said it is filing for insolvency alongside subsidiaries OBS and Fexcom. Fexcom has already filed for insolvency at the district court of Leipzig, while Philion and OBS will file this week. Philion closed the acquisition of OBS, the owner of online platform Handyflash.de and its 30 mobile shops, last year. However, the retailer experienced a significant decrease in revenues due to the closure of shops amid the coronavirus pandemic. To compensate for its the losses, the company applied for funding at the German state-owned development bank KfW, but said it had not

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Categories: Mobile & Wireless
Companies: Philion
Countries: Germany
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