Major error in the commercial registry: Zug beverage company was mistakenly declared bankrupt

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A phone call from the cantonal bank shocked Carlo Casillo (60), managing director of Casillo Beverages: A customer advisor asked him why his company was going bankrupt. Definitely not that!

Problem: On March 5, the Zug trade registry office mistakenly declared the Casillo brothers’ company bankrupt. Since then, Carlo Casillo’s phone has been ringing non-stop, according to “20 Minutes”. Over the past few weeks, he has spent approximately three hours a day answering questions from interested customers and suppliers. “Whether customers, suppliers, officials or friends, the news spread all over Switzerland,” the general manager told the free newspaper.

No public fixes

After the bank’s call, the two brothers reported the situation to the Zug trade registry office and the bankruptcy office. The employee in question apologized; This was a mistake the office made. CH Media writes about the case that the bankruptcy case was mistakenly filed against the creditor, not the debtor.

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However, nothing came from the office other than an apology. Casillo would like a public correction. Even the trade registry did not advise them on this matter. However, there is now a letter on the brothers’ website explaining the situation. He says: “Unfortunately, the Zug business registry office made a shameful mistake.”

Damaged the company’s reputation

The error in the trade registry has been corrected. A short note states that bankruptcy was declared in error.

Casillo criticized “20 Minutes”: “The canton does not realize the seriousness of the mistake.” Because the beverage retailer’s reputation could be damaged due to the error message. The Casillo brothers want to sell the company they took over 30 years ago soon. “This incident will definitely make the sale even more difficult,” he said. (kae)

Source :Blick

Tim

I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.