NEWS Energis has admitted it may have to put its Swiss business into insolvency after failing to find a buyer. The beleaguered business telco is withdrawing from Europe in an attempt to stop haemorrhaging cash. The Swiss operation is estimated to be losing about £1m a month. The company defaulted on bond payments on 12 March and is in talks with private equity firms interested in its core UK business.
Energis to halt operations in Switzerland?
European retreat continues
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