Deco retailer insolvent
Automatically saved design
Due to impending insolvency, the Depot chain, which specializes in decorative items, is undergoing insolvency proceedings under self-administration. While negotiations are ongoing, stores in Germany and Austria are closing one after the other.
At least 27 branches in Germany will be closed by the end of the year. In Austria, 29 out of 49 branches and around 230 out of 350 jobs are to be saved. In any case, the branch network in Germany will shrink to 285 stores. Further branches are expected to be closed.
Negotiations with some landlords are still ongoing. "We will systematically close stores that do not earn us any money," explained the retail company's Managing Director, Christian Gries, on Monday.
Transition to regular operations targeted by mid-2025
According to the company, the aim is to be able to return to regular operations by mid-2025 at the latest. At the same time, Depot is also working on the product ranges and a new positioning. "We need to become a concept store," the company boss told the daily newspaper "Welt". He is also considering adding brands to the range. In turn, the existing portfolio has been streamlined. "There are certainly 30 percent fewer items in the stores now than before," Gries told the newspaper.
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