Publicitas postpones the deadline for publishers' agreement by four days

Publicitas, the advertising marketer in deep financial trouble, has asked Swiss publishers to give their consent to the restructuring package by May 10. Now, according to the Handelszeitung, Publicitas has extended this deadline to May 14.

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Reason: increased time pressure due to the short working week. So far, the feedback from the publishing houses has been less than inspiring. Publicitas head of communications Elisabeth Aubonney comments: "We have received feedback, but no formal reactions yet.

Last week, the Publicitas management showed the publishers how it intended to save itself from the financial problems. The publishers are to take a 50 percent stake in Publicitas. If this proposal does not come to fruition, the air will become thin (Werbewoche.ch reported). The Bülach District Court expects to hear back on the publishers' willingness to cooperate by May 18. The court has granted Publicitas a provisional moratorium.

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