German luxury TV maker Loewe is broke, Spiegel Online reports-- leading to the end of production on 1 July 2019 and the threat of dismissal of the majority of around 400 employees.
According to the news story, the company has less than €500000 in the bank, and was denied a €9 million loan from British investment firm RiverRock. The situation lead to the union IG Metall to criticise RiverRock, as it accuses the firm of waiting until Loewe was broken to, as union head Jurgen Horn puts it, "earn money with the rubble of the company."