Trembling for locations

350 Depot employees have not been paid

The home accessories chain got into financial difficulties and had to file for insolvency.

(Bild: Vergil Siegl)

In the course of the insolvency of the home accessories chain Depot, more than 130 jobs will certainly be cut, but the employees are completely up in the air. It is currently unclear which locations will be closed and which can remain open. The July salaries have not been paid.

Depot employees are going through hard times at the moment: After bankruptcy proceedings were filed on Thursday, the 350 or so local employees are up in the air and don't know what will happen next.

The German Depot parent company Gries Deco Company GmbH wants to take over 27 or 28 of the current 49 Austrian stores from the insolvency estate. This would mean that "only" just over 130 jobs would ultimately be cut.

For the time being, all staff have been given notice of redundancy
However, it is completely unclear which locations can be taken over by the German parent company. Viennese restructuring expert and Depot Austria boss Rainer Schrems is also at a loss: "The employees should be told quickly: you can stay or you can't stay, these are the critical branches. It's sad that I myself can't yet say who will stay and who will have to go." For the time being, all staff have been given notice of redundancy with the insolvency application.

Depot boss Rainer Schrems: "We know that everyone will receive their salaries, but we don't yet know when."

(Bild: klemens groh)

However, the employees are also worried about their salaries. Schrems: "Nobody has received their July salary." Although the insolvency compensation fund steps in in the event of bankruptcy, it is unclear when the money will flow. "It's currently taking a relatively long time because there are so many insolvencies and the fund has so much to process," says Schrems. "We know that everyone will receive their salaries, but we don't yet know when."

The AMS helps out with salaries in cases of hardship
In cases of hardship, however, the Public Employment Service helps out. Schrems: "The AMS has a system and can give employees in need an advance."

The Spar Group has also rented a depot branch in the Q19 shopping center in Vienna's 19th district.

(Bild: DERFRITZ Grafik und Fotografie e.U., derfritz.at)

The creditors include the landlords, such as the Spar subsidiary SES as the shopping center operator. Many rents are outstanding. Schrems: "The Spar Group is the largest landlord of Depot Austria and is definitely sitting on something." He expects that ultimately only around 20 percent of the debt could be serviced as a quota.

The company will ultimately be deleted by the courts
However, this is an issue that the liquidator will have to work out with Gries Deco Company GmbH: "The liquidator can say: What will you pay me to take over the 20 branches you want?" In any case, there is money in the cash register and "the goods also have a value."

Schrems himself wants to remain on board as Managing Director of Depot Austria until the insolvency is completed, but cannot yet say how long that will be: "It could take six months, it's all about the legal proceedings. But my role will soon be purely administrative." Eventually, the company will be deleted by court order.