Of the 49 branches in Austria, 25 are so loss-making that they are being scrutinized. Neo-boss is planning a major sale and wants to transfer the affected employees to other companies.
These are bitter days for the employees of the home accessories chain Depot: the Viennese closing expert Rainer Schrems, who buried the shoe store chains Salamander and Delka last year, has been director of Depot since February 29. Reason: Of the 49 branches in Austria, 25 are so loss-making that they are being scrutinized. Schrems: “As a precaution, I have therefore registered about half of the 400 employees in advance with the AMS.”
One problem is that after the Corona period, people prefer to spend their money on travel and restaurants rather than on decorative items such as vases, tablecloths or scented candles. Yet there are also locations such as those at the train stations where things are going well.
The big sale starts next Friday
According to Schrems, ten to fifteen branches will probably have to be closed, but he is still negotiating better lease agreements with the landlords. In any case, he is planning a major sale at the affected locations starting next Friday.
Schrems wants to place employees who lose their jobs at Depot elsewhere – for example at companies with which he has contacts, such as Humanic, ÖAMTC travel agencies and Intimissimi/Calzedonia.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
