BNB — Stops Activities

Thanks to more than 10 million Swiss francs worth of non-paid invoices, the innovative movement maker is currently in the process of closing its doors.

WORLDTEMPUS - January18, 2010

Louis Nardin and Elizabeth Doerr

Co-founder and CEO of BNB Concept SA, Mathias Buttet, has now confirmed to Worldtempus that a deficiency of liquid finances is obliging the company to cease activities. BNB’s output had already been strongly reduced, and more than sixty employees were let go in late 2009. The high-quality movement maker is effectively missing more than 10 million Swiss francs. According to Buttet, this has come to pass due to an accumulation of orders that remain unpaid by several clients.

The board of directors will be evaluating options this morning in order to choose the best legal course of action to follow from here.