The German decorative chain depot is now also unashamited in Switzerland after bankruptcies in Germany and Austria. More than 300 people could lose their jobs, wages for January will probably still be paid.
“Despite extensive efforts to stabilize the financial situation, no sustainable solution could be found to maintain the company in the long term,” said the company on Friday. Negotiations with banks about reconstruction would not be successful. The poor economic framework and external factors would have taxed things.
Depot is currently working with authorities. However, no information about a social plan has yet been given. According to its own statements, the company employs 3,000 employees in around 300 branches in Germany, Austria and Switzerland. 34 branches are probably influenced in Switzerland. According to employees, this Friday evening will close.
The German parent company of Depot has long been in heavy imbalance. Since mid-2024 there has been an insolvency and renovation process. A bankruptcy procedure has also been opened in Austria and a reduced continuation is planned here. About half of all locations are closed.
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.
