German Booking Agent Going UnderPublished: June - 2003 Over in Germany, the hunting community is concerned about a report that Kettner (more or less the German equivalent of Cabelas) has run out of money and may be gearing up to seek protection from its creditors. The company is huge by European standards, employing more than 700 people and operating 18 shops, plus a headquarters shop in Cologne. Kettner had revenues of 60 million Euros last year.
The problem, we understand, is a sharp fall-off in clothing and gift sales, not a drop in the sale of hunting equipment and guns. Still, outright insolvency could affect the whole company. Of particular concern, at the moment, is the fate of deposits on an undetermined number of hunts the company has sold through its travel division. We are following the matter closely and will let you know what we find out. ........(continued) |
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