German restaurant chain Vapiano opens insolvency proceedings
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FRANKFURT (Reuters) - German restaurant chain Vapiano SE on Friday said it had opened insolvency proceedings and would apply for government assistance programs to avoid bankruptcy, blaming the corona crisis for a further drop in sales. Vapiano's 55 German restaurants were closed yesterday evening, and almost all of the chain's 230 outlets are now closed, the restaurant chain said in a regulatory statement."Due to the drastic decline in net sales and revenues, Vapiano is now in a state of..