Markets have collapsed Montres Villemont files for bankruptcy
(01/2009) The commercial crisis also takes its toll on timepiece industry. The watch manufacturer Villemont SA from Vernie in Switzerland is the first casualty. The company with 14 employees had to turn over their financial statements to the Geneva commercial court and declare bankruptcy. The main reason for the insolvency is that the company's most important markets in Asia and Eastern Europe have collapsed.