Organiser of Swiss Formula E race goes bust

A Formula E car speeds through Bern in June Keystone

The company Swiss E-Prix Operations, which last year organised a Formula E electric car race through the streets of Bern, will be liquidated, according to the Swiss Official Gazette of CommerceExternal link (SOGC).

The announcement was reported on Wednesday in the Berner ZeitungExternal link. The SOGC said the bankruptcy judge of the Zurich district court had opened proceedings against Swiss E-Prix Operations on January 15. The company has been dissolved.

Since the race through Bern in June 2019, many small and medium-sized enterprises (SMEs) in the region have been awaiting payment of their invoices. 

Last October it turned out that Swiss E-Prix Operations, which had also organised a race through Zurich in June 2018  was experiencing financial difficulties linked to a lack of liquidity. It denied rumours that it owed millions of francs. 

The city of Bern, as the creditor, was not affected by the liquidity problems. Its engagement is ensured by a bank guarantee. 

The race through the Swiss capital attracted 130,000 people and was described in a city report as “generally positive”, despite a protest two days before the race against its environment impact.