Today (24 October 2023) it was announced that insolvency proceedings have been commenced in respect of Lyoness International AG and Lyoness Europe AG. Both companies are headquartered in Buchs, Switzerland and the proceedings pertain solely to these two companies.
Christopher Thomson, President of the Administrative Board of Lyoness International AG and Lyoness Europe AG, commented: “Over the last few years the pandemic, energy crisis and inflation have left deep marks in our company. Regretfully, the management team no longer sees itself as being in a position to continue the running of Lyoness International AG and Lyoness Europe AG in their present form.”
The Lyoness national companies, which operate a shopping community for consumers and participating partner companies independently of each other in the respective countries, will continue their operations as before. Existing Lyoness members of the individual national companies will, therefore, continue to receive the usual purchase benefits when they shop at Lyoness partner companies.
Lyoness operates an international shopping community as well as a loyalty programme. Target groups are, on the one hand, consumers who save money by shopping with Lyoness (cashback) and, on the other hand, retailers who wish to take advantage of a multisectoral and supranational customer loyalty programme. The Lyoness group of companies is currently represented in 19 markets.
Richard Meixner, Managing Director of Lyoness Italia s.r.l. said: “The insolvency proceedings pertain solely to Lyoness International AG and Lyoness Europe AG and the operations of the Lyoness national companies will continue as before. Existing Lyoness members will continue to receive the usual purchase benefits when they shop at Lyoness partner companies.”
Today (24 October 2023) it was announced that insolvency proceedings have been commenced in respect of Lyoness International AG and Lyoness Europe AG, both of which are officially headquartered in Buchs, Switzerland. According to Christopher Thomson, President of the Administrative Board of Lyoness International AG and Lyoness Europe AG, the proceedings have been commenced due to the impact of the pandemic, energy crisis and inflation.
Despite the proceedings, the Lyoness national companies, which operate a shopping community for consumers and participating partner companies independently of each other in the respective countries, will continue their operations as before. Existing Lyoness members of the individual national companies will, therefore, continue to receive the usual purchase benefits when they shop at Lyoness partner companies.
Richard Meixner, Managing Director of Lyoness Italia s.r.l. said: “The insolvency proceedings pertain solely to Lyoness International AG and Lyoness Europe AG and the operations of the Lyoness national companies will continue as before. Existing Lyoness members will continue to receive the usual purchase benefits when they shop at Lyoness partner companies.”
Lyoness operates an international shopping community as well as a loyalty programme. Target groups are, on the one hand, consumers who save money by shopping with Lyoness (cashback) and, on the other hand, retailers who wish to take advantage of a multisectoral and supranational customer loyalty programme. The Lyoness group of companies is currently represented in 19 markets.
Today (24 October 2023), insolvency proceedings were commenced in respect of Lyoness International AG and Lyoness Europe AG, both of which are based in Buchs, Switzerland. According to Christopher Thomson, President of the Administrative Board of Lyoness International AG and Lyoness Europe AG, the proceedings were necessitated by the pandemic, energy crisis and inflation.
Richard Meixner, Managing Director of Lyoness Italia s.r.l., confirmed that the proceedings only affect Lyoness International AG and Lyoness Europe AG and that the operations of the Lyoness national companies will continue as before. He added: “Existing Lyoness members will continue to receive the usual purchase benefits when they shop at Lyoness partner companies.”
The Lyoness group of companies is an international shopping community and loyalty programme, offering cashback benefits for consumers and customer loyalty programmes for retailers. Currently, there are 19 markets represented within the Lyoness network.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.