Rescue plan for Deutsche Messe AG agreed

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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