The German teleshopping channel Schmuckkanal is preparing to go into liquidation. The channel, specialising in jewelry, has declared insolvency. As the MD Olaf Kliem confirmed to industry newsletter Medienbote, the Düsseldorf Bankruptcy court initiated proceedings to this effect.
The Schmuckkanal was launched in November 2006 but never managed to get into the black: in the fiscal year 2007/2008, it made a total loss of €4.4 million on a turnover of around €13 million.
Broadcasts of the channel continue for the time being. “After examining the situation, we immediately decided to continue to transmit,”said Kliem. “The supply of new product is secured. We now use the time for intensive discussions with potential investors.”
The channel specialised in jewelry, watches, chains, gems and was sold around the clock in so-called Dutch auctions. It is available on cable, satellite and DTT, reaching about 15 million households.
