Discussions between Rainer Schrems, head of home accessories chain Depot, and the landlords are going well about the future of the 26 of the 49 branches that have suffered losses so far: “It seems that we can keep at least 20 branches until further notice. ”
Renovator and ‘closing expert’ Schrems is happy that things are apparently less bad than feared: ‘I would like to thank the landlords, most of whom were very accommodating.’ term of contract in force. Rental contracts extended. For example, the largest landlord, Spar shopping center subsidiary SES, can probably continue to operate six of the seven affected depot locations.
Schrems is already in the process of reversing many of the layoffs
That is good for the employees. As a precaution, the Viennese manager registered 200 of the 400 employees at the AMS for dismissal in March. “Now I expect that it will ultimately only affect just over 40 employees. We are already in the process of reversing cancellations at the locations we already know we can save – such as the Q19 shopping center in Vienna-Döbling.”
In the 26 previously loss-making stores, turnover is continuing for the time being (see graph above). The discount on the artificial and dried flower range has been increased to minus 70 percent. This is now minus 60 percent for candles and minus 50 percent for lamps, small furniture and napkins. The minimum discount that now applies to all product groups has been increased from 20 to 30 to 40 percent.
In May, discounts can be increased to minus 90 percent
All 26 affected branches will soon display how long it will take until the last day of sales – and there may be new promotions every day until then. Schrems: “The discounts are increasing and can be increased to minus 90 percent during May.” The goal remains: all existing goods must be sold by the end of May, so that the branches that can be saved can be kept and can start again.
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.
