Max Aicher has finalized the purchase of the bankrupt Pilsen Steel through its Czech Subsidiary, Max Aicher Pilsen. The sales price was not disclosed. The insolvency administrator, Jaroslav Broz, did not say if the purchase price would cover the creditor’s claims. The German company plans to use some of the Pilsen Steelworks equipment in its […]
The energy company ČEZ will pay shareholders a dividend of CZK 34 per share before tax. CZK 18.3 billion from 2019’s profit will be distributed among shareholders. The state, as the majority shareholder, will receive CZK 12.8 billion. ČEZ paid a dividend of CZK 24 per share before tax in 2019 from the previous year’s […]
The Czech price comparison site Heureka.cz filed a lawsuit against Google in the Prague City Court for abusing its dominant position in search. It demands CZK 394.9 million from it as a lost profit for three years. Google favored its price comparison Google Shopping over the competition in search results. The Czech representation of Google […]
The Regional Court in Pilsen granted Strunal Schönbach’s proposal and turned the company’s approved reorganization plan into bankruptcy.Strunal produces stringed musical instruments, violins, violas and cellos, and more. But sales of musical instruments in the world have almost stopped. These are goods that customers need to touch physically. Sales of musical instruments have fallen by […]
US technology company Google plans to invest up to two billion USD (47 billion CZK) in a data center in Poland. The investment is part of a plan to expand cloud services, the Polish newspaper Puls Biznesu reported. The news comes after the US announcement of Microsoft in May that it is investing one billion […]
Strunal Schonbach, a 98-year-old Czech manufacturer of string instruments, says the COVID-19 crisis has decimated its revenues, forcing it to abandon a court-approved reorganization plan for bankruptcy. According to a filing published in the insolvency register, Hospodářské Noviny reports. The Strunal company filed an insolvency petition at the end of 2019. In May, the regional […]
The Kaufland food chain will begin selling its products online through a partnership with Košík.cz. Kaufland is a part of the German retail group Schwarz. Kaufland tried online sales in Germany, but the project was scrapped after about a year. In the financial year 2018/2019, the Kaufland ČR chain’s profit fell by 59 percent year-on-year […]
Seventeen airlines have resumed their operations at Václav Havel Airport Prague to a total of 55 destinations. The airport is negotiating with other airlines on an ongoing basis. As a result, the list of available destinations could expand in the coming weeks. “Thanks to our thorough and intensive negotiations with airlines, Prague Airport has been […]
Sazka Group started the first quarter strong but saw a sharp decline in revenue and profit in March due to coronavirus restrictions. Sazka Group’s net profit fell by 50.6 percent year-on-year to EUR 43 million (CZK 1.15 billion) in the first quarter. Gross revenues from gaming fell by 11.6 percent to 405 million euros (CZK […]