New Media Lux officially bankrupt
After initial reports at the beginning of the week that Luxembourg media company ‘New Media Lux’, had filed for bankruptcy, the decision was announced on Tuesday in the Commercial Court by Judge Guillaume.
New Media Lux publisher of several medias including the English language websites 352Luxmag.lu, News352.lu and the printed publication Business Review, is now officially bankrupt and has gone into receivership.
The decision affects about 50 employees who worked at the NML building located in Hamm.
The company has been in existence since 2007 established by Charles Ruppert, former Chairman of the Luxembourg Bankers’ Association and Managing Director and Director-General of the Saint-Paul Luxembourg. At one point New Media Lux was the only media in Luxembourg that published in English with its publications becoming well-known in the international community, and therefore will be missed by many.