Loewe ‘Made in Germany’ Flops as TV Maker Seeks Debt Protection
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Loewe AG, the German television maker responsible for the first public TV transmission in 1931, applied for protection from creditors after its focus on quality “made in Germany” failed to revive sales.
The company, which produces exclusively in the country, filed for creditor protection, a process comparable to Chapter 11 in the U.S., at the Coburg local court to help reorganize with the help of strategic partners and investors, Chairman Matthias Harsch said in a statement today.