Grandjean's bankruptcy, or how to be undone with commission orders flowing in...

The La Chaux-de-Fonds company Grandjean SA renowned for its polishing know-how has filed a petition in bankruptcy in the Canton of Neuchâtel. According to the FTMH trade union, the debt amounts to 3,5 million Swiss francs.
With Grandjean's commission orders flowing in, amidst a flourishing watch industry, this news might seem rather unexpected. The company's difficulties suddenly arose last year when an Italian order of 800.000 Swiss francs was not honoured and a delay inflicted by a Japanese supplier reported the payment of 700.000 Swiss francs. The banks refused to help Grandjean with its cash flow problems.
The 50 employees of the company should easily find another job, as the watch sector is booming.