Dear Business Partners,
with deepest regrets we herewith must let you know that we have been forced
to file bankruptcy today.
This is based on the developments of the recent weeks during which we have
tried everything to avoid this step by downsizing our staff, restructuring
all distribution methods and channels, negotiating with third parties,
particularly with several groups of possible investors, yet - sadly - to no
avail. All our attempts to find any other means to keep afloat in times of
collapsing markets have remained unsuccessful. Since it has not been
possible to reach possible solutions and it has become obvious that we were
no longer able to stay in business when relying on our own strength.
We expect the relevant court to name a receiver within the very future. We
do hope that jointly with that receiver we may be in a position where EFA´s
key business areas can be saved and restructured. However, it is unclear if
our desire to reestablish EFA will be rewarded by the receiver´s
perspective.
We thank you for all the years of cooperation and the trust in EFA.
Yours sincerely
EFA Medien GmbH
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