Swets files for bankruptcy

Subscription agent Swets suspends payments and appoints an administrator.

Dutch-based subscription agent Swets & Zeitiinger Group BV has filed for bankruptcy protection, declaring a suspension of payments and appointing an administrator, according to the Dutch insolvency information website FaillissementsDossier.nl.

Swets have written to publishers to say that they will be exploring options for the business and further announcements will follow during the course of this week.

A number of publishers, including Springer and Incisive Media, have alerted customers that they are exposed to risk if they continue to submit subscription payments to Swets.