Scala Crossmedia BV has taken over the assets of the bankrupt Bruidmedia BV. This is what the curator reports in the first bankruptcy report. Scala Crossmedia is the parent company of the trade magazines Textilia and Schoenvisie, among others.
Bruidmedia BV is the publisher of the trade magazine Sposa Facts, which focuses on the bridal fashion industry and also publishes various consumer-oriented products such as Bruid & Bruidegom Magazine. The media company also has a German sister company that is also insolvent.
Various bids were made for Bruidmedia’s assets, as can be read in the report. Scala Crossmedia submitted the best offer. The bid applies to goodwill, intellectual property rights and work in progress. Scala has also indicated that it wants to enter into discussions with the media company’s staff for a new employment contract.
The company’s physical assets, such as inventory and transportation, have been sold to another party.
Bride media under the care of Scala Crossmedia
The bankruptcy report also states the self-declared reason for the bankruptcy. A combination of factors is specified by the media company’s directors. “The corona crisis and the enormous decline in turnover as a result have taken a heavy toll on Bruidmedia BV. After an initial recovery, the increase in paper costs and personnel costs and the rapid rise of AI have increased the financial problems, as a result of which the board was ultimately forced to declare bankruptcy on its own,” the report says. The curator will conduct his own investigation into the causes of the bankruptcy.
Source: Fashionunited