Rescue plan for Deutsche Messe AG agreed

Information

Insolvency was looming over Deutsche Messe AG, now it seems to have been averted, as reported by NDR. On the night of Wednesday, 9 December, management and employee representatives agreed on a concept to save the ailing trade fair operator: a guarantee of EUR 120 to 130 million was agreed on, plus a capital injection of EUR 20 million. The number of employees is to be reduced from 738 to 525; from 2022 a four-day week without wage compensation is to be introduced.

For 2020, Deutsche Messe AG expects a minus of EUR 103 million with a turnover of EUR 95 million (turnover 2019: just under EUR 350 million).

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