Fair group MCH is risk for the taxpayers

Now arrives the what is the fair group MCH Group risky: your threatens to 2020 due to the Coronavirus, a further negative year. Thus, the group device due to

Fair group MCH is risk for the taxpayers

Now arrives the what is the fair group MCH Group risky: your threatens to 2020 due to the Coronavirus, a further negative year. Thus, the group device due to the already existing burden of debt even more in distress and time pressure: you must set up as quickly as possible otherwise. Your Basel-city, Basel-land and the Canton and city of Zurich are involved. Together they hold 49 percent.

Cancelled for this year, the MCH Group has the Baselworld, one of their most important events. You would have to take place at the end of April, but had to be last week, because of the Coronavirus, or cancelled, as well as the Giardina in Zurich, and the Art Basel Hong Kong. The smart Suisse in mid-March, is. Smaller Look this spring, such as the health fair life-force at the end of March is expected to fall to the Virus to the victim. The main fair, Art Basel, is in the middle of June. The art fair is probably the most profitable of the group. If you can go on the stage, is no longer safe.

stability is guaranteed

"We clarify with the insurance companies, the losses are covered," says MCH spokesman Christian Jecker. In any case, however, it ensures the stability of the group: "It is not so, that it is for us now to Survive." The Basel cantonal Parliament David wuest-Rudin (GLP), however, cautions: "The Situation is worrying." It is high time that the government of national finally, your Exit strategy, this does not without political discussion ongoing new tax money in the exhibition is plugged in. The Great Council had given to it half a year ago, the order.

The financial statements, 2019, the fair is not yet known, in the half-year operating profit of 3.1 million francs was without fair to cancel out of almost. The net loss was 1 Million Swiss francs. The liabilities exceeded 401 million Swiss francs in equity capital to more than 700 percent. As healthy a debt ratio of 200 percent applies, for a company usually. However, the fair is a special case, because a part of your debts are in the public sector. "I do not believe that the group is in a financial emergency," says Erhard Lee to this newspaper. It is the largest private shareholder of the MCH.

CS threatened with credit rating downgrade

The Credit Suisse threatens to MCH after the Baselworld-the cancellation, however, with a credit rating downgrade. It is already with the "Low BB" and a negative Outlook on a deep level, and increases the cost of absorption of new money. In January, the exhibition had sold their hall 3 and the musical theater in Basel, and to the inhabitants of the municipality, and a "lower single-digit million amount" received. As long as she comes through the losing streak, it is in the case of the balance sheet media conference on 1. April need to explain.

also, the sale of the division, "Live Marketing Solutions", with approximately 500 staff services for major Events provide is Planned. Private investor Lee sees the current virus crisis, even positive. "Drives you to the fair, and finally, forward going, to find new partners for the Expansion of our international business." He had brought to the fair a few months ago in expository due to unsuccessful recent projects. Now, could help him Corona to urge the fair rapidly in the new, from him, bearing, direction.

Created: 05.03.2020, 09:43 PM

Updated Date: 05 March 2020, 14:02

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