Image: colourbox.de
Printberry Distribution has ordered printer supplies (toner) worth around 1.4 million euros from an intermediary in Bahrain. The toners were delivered, confirmed as original goods by test devices and then sold by dealers to end users. Only later did it become known that there was no original HP brand chip inside the toner cartridges and that they were counterfeits. According to KSV1870, Printberry Distribution had to take back the goods and write down the value of the remaining inventory. Compensation for damages has been claimed, but the chances of success against the middleman in Bahrain are, it is said, manageable.
Printberry’s liabilities amount to around five million euros and its assets amount to 400,000 euros. Four employees and 51 creditors are affected. A restructuring plan with a 20 percent quota is offered.
As a restructuring measure, Printberry Distribution has announced that it will close and clear the warehouse in Ried, rent a smaller area and change the ordering and delivery process in order to reduce ongoing costs.
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