Depot managing director Rainer Schrems announced this in an interview with APA. The owner of Depot’s German parent company Gries Deco Company GmbH, Christian Gries, wants to continue the chain in Austria. However, only 27 to 28 of the current 49 branches will be continued. This depends not least on whether an agreement can be reached with the landlords, Gries said in a press release. The branch closures will result in the loss of around 130 of the 349 employees, Schrems added. There is currently no social plan for the affected employees.
Streamlined and adapted product range
The liabilities of the Austrian Depot Handels GmbH are estimated at 15.8 million euros. Gries Deco Company GmbH, the owner of the Austrian chain, filed for bankruptcy in mid-July and is currently in insolvency protection proceedings.
Schrems was appointed by Gries in the spring as a restructuring expert. Schrems also said that he would no longer be on board with the rescue solution for the decoration chain. However, he assumes that the product range will be adjusted or streamlined in order to bring the retail chain back into the black.
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