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Bankruptcy triggers job losses in Basel

A Basel-based computer company, Dettwiler Informatik, has been declared bankrupt, leaving its 150 employees without a job.

This content was published on July 25, 2001 - 19:21

The bankruptcy was confirmed by Basel's insolvency office on Wednesday. The company, founded in 1982, has accumulated debts of SFr57 million ($33.7 million).

Some 110 workers in Basel will lose their jobs, along with 40 others at a Zurich subsidiary.

Dettwiler's main creditors include Switzerland's Credit Suisse bank and Germany's Hypovereinsbank. They hold a SFr32 million ($19 million) share of the debt.

Dettwiler started out in computer sales, before diversifying into computer services.

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