Herfina's privately-owned Erb Group parent was declared insolvent earlier this month with liabilities of €1.3 billion, representing Switzerland's biggest financial failure since the collapse of Swissair. It incorporated some 85 subsidiaries, with its original core activities centred on both new vehicle import concessions – for GM, inter alia – and the coffee trade. Some 2,500 of the Erb Group's 4,900 staff were based in Switzerland. With 30 dealerships and service garages, Herfina holds over 8% of Switzerland's new car market. Alcopa's holding company, with some 1,800 employees in 90 subsidiaries, had 2002 turnover of nearly €960m.
Second-biggest Swiss dealer bought by Belgian group
23/12/2003 in Latest News