Lausanne Court decreed bankruptcy Switcher

The clothing group Vaudois Switcher, with stores also in Ticino, has failed, weighed down by three exercises in consecutive deficits and from 9 million losses in the first months of 2016,

The district court ruled on Thursday in Lausanne. According to the court "it is hard to deny the state of indebtedness of the company. There is largely in a state of insolvency". Now the company will have 10 days to appeal.

The briefing for the forty employees is expected Monday. The difficulties were already emerged earlier this month: it was known that the staff, who will be laid off, had not received the April salary and that suppliers not paid, had interrupted deliveries.

Robin Cornelius, the founder of the Le Mont-sur-Lausanne, created in 1981 and whose logo is a whale, in 2014 sold a majority stake to Duraiswamy Indian family, retaining only 14%. The new owners had decided to transfer all production in India.