E-m-s distribution arm files for bankruptcy
German DVD group distribution arm seeks protectionCOLOGNE, Germany -- E-m-s sales, the distribution arm of German DVD group e-m-s new media, has filed for bankruptcy protection.
The Dortmund-based distributor was pushed over the edge after home entertainment wholesaler TMI went bust late last year.
It is unclear how the move will affect e-m-s new media, which is already struggling. Sales at e-m-s slipped 40% to 6.5 million euros ($8.3 million) in the first nine months of 2008 and the company booked a net loss of 3.4 million euros ($4.3 million). E-m-s is expected to release full-year figures later this month.