A district court in the Western German city of Aachen has opened preliminary insolvency proceedings and appointed lawyer André Seckler as administrator, Photon says in a statement.

Under German insolvency rules, he has three months to bring new investors on board to save the publisher, which has 140 employees. Seckler plans to keep it going in the meantime.

Germany’s print media sector has been shattered by a number of high-profile insolvencies in recent months.