Publisher and owner of Bruna in financial trouble

Audax, the parent company of Bruna and ReadShop, has received temporary protection from creditors until November 17, allowing discussions about its future. The company has faced financial difficulties, including significant debts to the tax authorities and suppliers, leading to delivery issues. Internal conflicts within the management have also arisen, resulting in the suspension of CEO Paul Sies. Despite these challenges, a spokesperson claims the stores are fundamentally viable. The court will decide on November 17 whether Audax will receive additional time to negotiate with creditors. The company employs nearly 800 people across its own and franchise stores, with Bruna being one of the oldest retail chains in the Netherlands, established in 1868.