After trade magazine publisher Mybusinessmedia filed for bankruptcy last week, the management has reached an agreement with the trustee regarding a relaunch. Several stockholders of Berk Partners III, which is investing directly, are supporting the plan. The majority of employees will keep their job.
Mybusinessmedia has been around for over twelve years. A few years ago, it decided to focus on the manufacturing industry and sold its other titles. With the remaining magazines, including Aandrijven & Besturen, Constructeur, Vraag & Aanbod and Engineersonline, it expects to have a strong basis to build on.
Although Mybusinessmedia has significantly reduced its debt over the past few years, this turned out to be insufficient to be able to carry on in the same way. The relaunch should establish a company with a healthy financial structure. The team led by Joachim Driessen will actively look for partners to ensure further growth.