Icelandic news translated into English

November 3, 2008

BT stores ask for petition in bankruptcy

Filed under: announcements,economy,jobs — newsfrettir @ 7:56 pm

BT stores asked for petition in bankruptcy today. Hopes are that it will be possible to get BT up and running again, but it is obvious that the BT stores will be closed for now. There are 50 employees working for BT.

This is an announcement from the company:

“In the last few days and weeks we have paddled for the life of the company to insure the practice could continue in the form as we know it, but without satisfying results. The company has asked for petition in bankruptcy today, Monday.

There are hopes that it will be possible to get BT back up and running and discussions about the matter have already started. There is a signed acquisition offer of the practice of BT stores, but is subject to resolution of the liquidator.

It is obvious that the stores of BT will be closed for now while there is sought a result around the acquisition offer.

50 employees are working for BT stores, in 30 full-time equivalent unit. Staff meeting was held tonight and employees were informed about the situation and offered help to insure their rights.”

(News Article by *noname*)
Original Article in Icelandic

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