The Office Times

ADVEO Deutschland invokes pre-insolvency protection

ADVEO Deutschland has invoked pre-insolvency protection. The German subsidiary of the Spanish-headquartered wholesaler is now in a position to seek refinancing and continue operations while not being claimed by its creditors. This protection can be in place for up to three months.

Adveo Germany had its credit lines for goods cancelled in October after ADVEO Group International in Spain initiated pre-insolvency proceedings following the break down of negotiations with Staples Solutions.

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