November 25, 2020

Report: Swets Parent Company Also Bankrupt

Here is a report (mechanically translated, via Google) from RTL News from the Netherlands:

The parent holding company of the international subscription caregiver Swets & Zeitlinger is bankrupt. Last week, RTL Nieuws all those company, Swets & Zeitlinger Group, had received deferred payment and a daughter company went bankrupt.

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With a turnover of 550 million, Swets is a key link between international publishers and large customers of subscriptions, such as universities and libraries. Funding holding into trouble by margin pressure and over-indebtedness. Last year the vehicle booked a loss of 51 million euros.

Read the Complete Article (Translated or Original)

Additional Material

See Also: A New Article by Matt Ennis at Library Journal: “Swets Bankruptcy Recalls Fallout from RoweCom”

See Also: Most Recent Announcement From Swets (September 30, 2014)

See Also: Our Post From Last Week With News and Reaction From Publishers

UPDATE 2: Re: Swets Germany  (via buchreport.com, Mechanically Translation From Google)

The Cologne Information Services VUB negotiated by its own account exclusively for the purchase of Swets business in Germany. A corresponding exclusivity agreement had been signed. VUB provides in addition to the traditional library business and large businesses, consultants, Prüfungsgesellschaft- or law firms, hospitals, ministries and government agencies with technical information.

UPDATE 1: Over a hundred layoffs at Swets (via Leidsch Dagblad)
Link is to mechanical translation.

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About Gary Price

Gary Price (gprice@mediasourceinc.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. Before launching INFOdocket, Price and Shirl Kennedy were the founders and senior editors at ResourceShelf and DocuTicker for 10 years. From 2006-2009 he was Director of Online Information Services at Ask.com, and is currently a contributing editor at Search Engine Land.

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