Pfaff, the manufacturer of sewing machines, has filed for insolvency...
Pfaff, the manufacturer of sewing machines, has filed for insolvency proceedings under the German bankruptcy code. The company, which has 400 employees, has suffered from an increasingly difficult business, especially in East Asia. Sales were €65 milllion in 2007, down by 1.9 percent. The operating loss was €6 million.
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