German cable operator PrimaCom stands on the brink of insolvency this week following the companys failure to meet payments due of about Â29.2m yesterday. Earlier, PrimaCom failed to meet a deadline to make new proposals to its creditors.
PrimaCom said its operating divisions would continue to serve customers as usual.
Last week, the companyÂs supervisory board appointed Sebastian Freitag, the managing director of investment bank Freitag & Co, as interim chief restructuring officer and a member of the board.
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