Berlin, 15 Oktober 2019
The Zeitfracht Group co-finances the compensation fund for publishers damaged by the KNV insolvency. Zeitfracht thus supports smaller publishing houses which faced with economic challenges as a result of the insolvency of the current subsidiary KNV Zeitfracht.
Wolfram Simon-Schröter, Managing Director of the Zeitfracht Group: “We are pleased that we were able to promptly create a practicable opportunity for financial compensation. After the successful rescue of KNV, the Zeitfracht Group also stands by some of its long-standing KNV partners. Our contribution to the compensation fund is therefore also an expression of our corporate self-image”.
Publishers who have suffered as a result of the KNV insolvency may submit an application for compensation after the fund has been set up. The support is aimed at those publishers who are in acute difficulty due to the KNV insolvency. The amount of the support granted depends on the individual case and is determined on the basis of the funds available in the fund and the number of applicants. The Zeitfracht Group acquired the former KNV Group in August.
About the ZEITFRACHT Group
Zeitfracht Group is an owner-managed family business in the third generation with more than 3,000 employees and headquarters in Berlin and Leipzig. The company operates primarily in the three business segments logistics, aviation and real estate.
About KNV Zeitfracht
KNV Zeitfracht is the logistics service provider for the book and media industry. It belongs to the Zeitfracht Group, an owner-managed family business with headquarters in Berlin and Leipzig. KNV Zeitfracht employs around 1,600 people in Stuttgart and Erfurt. As a wholesaler, the bar assortment supplies its customers overnight with around 590,000 articles from over 5,000 suppliers. The publisher’s delivery service is a full-service provider for warehousing, distribution and other services for over 300 publishers. The logistics centre of KNV Zeitfracht in Erfurt is one of the largest and most modern media logistics facilities in Europe. With LKG Leipziger Kommissions- und Großbuchhandelsgesellschaft in Rötha, another publishing house delivery belongs to the Zeitfracht Group, which employs more than 3,000 people. With its 150 employees LKG delivers the products of more than 150 publishing houses.