Otto’s publishing house has seized accounts and is trying to avoid insolvency

Otto’s publishing house has seized accounts and is trying to avoid insolvency
Otto’s publishing house has seized accounts and is trying to avoid insolvency

Otto’s publishing house came into sharp conflict with its business partners. First, the printing house Czech Print Center from the empire of billionaire Daniel Křetínský sent an executor to the publishing house because of its debts, who attached the company’s accounts. The Triangl printing house has now joined in and filed an insolvency petition against Otto’s publishing house, according to information published in the insolvency register.

“I consider the bankruptcy proposal nonsense. We agreed that I would settle our claims in cash and deposit Triangle’s money into the account. We will continue to operate normally,” the owner of the publishing house Vlastimil Svoboda responded to SZ Byznys’ question.

At the same time, he admitted that his company also has a problem with another creditor. “We have blocked accounts,” Svoboda added without further details.

The published documents show that the second business partner with which Otto’s publishing house is currently involved in a dispute is the aforementioned Czech Print Center printer. In addition to the attached accounts, the executor, at the instigation of the Křetín printery, also secured the headquarters of Otto’s publishing house in Prague in Žižkov, according to the real estate cadastre.

The business of Otto’s publishing house was marked by controversies and business disputes in the past as well. The publishing house already faced insolvency proceedings in 2010. The Těšín printing house gave the impetus for it then. In the end, both parties agreed to settle the dispute.

In addition to disputes with creditors, publisher Vlastimil Svoboda was given a suspended sentence in 2009 for selling pirated copies of Harry Potter and the Goblet of Fire.

Otto’s publishing house refers to the name of the publishing house of the same name founded in 1871 by the bookseller and publisher Jan Otto. But in reality there is no connection between the two companies.

The current publishing house continues the company founded in 1998 by media entrepreneur Fidelis Schlée.

The article is in Czech

Czechia

Tags: Ottos publishing house seized accounts avoid insolvency

PREV The most expensive patient is from the west of Bohemia, the treatment of atrophy cost 64 million
NEXT Firefighters freed 12 people trapped in an elevator today in Prague