In mid-November, previously unknown thieves cleared out the safe of a Berlin watch retailer. 1000 watches are stolen. The company is now filing for bankruptcy.
Some of the stolen watches belonged to the company. The majority, however, came from third parties who wanted to sell the watches with the company's help. Watchmaster ICP would have received a commission for this. While the owners receive the damage from the insurance company, the company only gets the purchase price for its watches, it was said. However, this does not cover the costs that have been invested in processing, certification and marketing. "Under these unexpected circumstances, the company is no longer able to make a positive going concern forecast. The incident is forcing us into bankruptcy," Watchmaster ICP said.
According to the company, it employs 75 people in Berlin, Paris and London. "We are deeply dismayed at the harsh consequences this incident has had for everyone involved." Further sales locations are to be opened in the coming year. The plans have now been scrapped overnight.