As you may know, I’m French and consequently, I often read Le Temps, a noticeable Swiss paper – especially known for its respected section devoted to the watchmaking business. Also, what an unexpected I discovered here . In fact, Franck Muller, one of the primary makes of Geneva, failed. We as a whole realize that the condition of the business isn’t the awesome the occasion, yet, this appeared to be a genuine shock… until I read the whole story!
According to the authority periodical of the Canton of Geneva, watch brand Franck Muller was declared in default by a court of first example on April 24, 2017. Subsequently, Franck Muller was authoritatively bankrupt. Thinking about the condition of the watch business, commentators and financial aspects columnists promptly started to speculate that the brand established by Mister Muller in 1991 was confronting financial trouble. Things being what they are, this was not really the situation by any means! Everything began with a contested receipt of… 57,70 Swiss Francs. Indeed, the cost of a good supper in Geneva.
The entire story, which has now become something of a joke (a terrible one for sure), began with a receipt because of a promoting and bulletins company, APG/SGA. This receipt alluded to a publicizing effort that the watch brand needed to display in Geneva air terminal. The last being under development, Franck Muller contested the installment of the whole receipt of CHF 57,70. In any case, the regulatory machine was dispatched and a court chose on April 24 that the Company Franck Muller was defaulting and along these lines bankrupt. The terrible joke went on for 8 days, as the next week, the Civilian Chamber dropped this judgment, thinking about the low measure of the receipt and its installment (charges and interests included) by the interested company. A “ridiculous story that is presently solved“, as said to Le Temps by the Director of Franck Muller, Nicholas Rudaz.
Indeed, Franck Muller, a company held by Armenian businessman Vartan Sirmakes, actually utilizes to date 370 associates in Geneva and 630 in Switzerland. Also, the company is going to extend creation offices with another 16,000sqm structure in Genthod, a city near Geneva, where the central command (nicknamed Watchland) are located. No motivation to stress over Franck Muller, which appears to be a long way from being bankrupt.