Bailiffs seize Fischer office, private villa as company goes into administration

Bailiffs have seized assets belonging to the Fischer travel agency, which went into forced administration last week. Bailiffs seized the company's Prague headquarters, a branch office in Ostrava and also Vaclav Fischer's private villa. Mr Fischer, until recently a senator, built up the company into the country's most successful travel agencies, with its own charter airline. However the company has been in difficulty for some time, and according to media reports owes Czech Airlines, the Czech Airport Authority and Komercni Banka more than 15 million dollars.