retail
Decorative chain depot closes at least 100 more branches
The retail chain Depot shrinks significantly. In order to be able to be successful again and keep up with portals like Temu, the dealer wants to become one thing in the future: faster.
The insolvent decorative dealer Depot closes at least a third of his shops in Germany and tries to restart. In the first three months of the year, 45 branches have already been closed. In April and May, 54 others are to be closed, as owner Christian Gries said in an interview with the German Press Agency. The list may also be longer. Negotiations with some landlords are ongoing.
According to Gries, between 150 and 180 depot branches should remain. As a result of the closings this year, around 2,000 of the 3,300 employees are expected to lose their job.
It is not possible for companies to continue the old size, says Gries. “We can bring our business back on the road to success – by optimizing the costs and giving depot new swing. This is the only chance to survive.” 43 branches had already been closed last year, remaining 285 at the end of 2024.
In July 2024, bankruptcy was requested
A few years ago, the chain, which is based in the Lower Franconian community of Niedernberg, still had around 400 shops in Germany. During and after the Corona period, Depot had difficulty struggling. Due to impending insolvency, bankruptcy in self -administration was requested in July 2024.
So far, Depot has been a daughter of the Gries Deco Company (GDC), which is now being handled. The decorative chain is to be transferred to a newly founded company, GDC Deutschland GmbH. According to Gries, this will take over essential assets and continue the company. The creditor committee has released the purchase contract at the beginning of the week. In addition to the old and new owner Gries, Marco de Benedetti, the former German director of Tupperware, is also a member of the management.
Competition through Temu and Action
The non-food industry, in which depot is moving, is competitive and is under pressure because of the cloudy consumption mood. The Kodi retail chain also slipped into bankruptcy in 2024. Other providers withdraw.
The food discounter Aldi recently announced that it would hire his online shop. On the other hand, companies such as the online marketplace Temu or the discounter action have become more important. Like Depot, both dealers also offer products from the area of decoration and furnishings.
“Favorable alternatives in retail and online have ranked,” says Gries. Depot should become more creative and surprise customers more often. “We have to track down trends faster and bring it to the shops.” He also relies more on e-commerce. “Many products should be available online earlier and are sent directly from Asia to the customer.”
Association: 4,500 other shops are closing this year
In addition to the branches, Depot would still like to operate small shops in Germany that are integrated into markets of retailers such as Rewe and Edeka. There are currently around 165 of them.
Depot subsidiaries abroad have recently filed for bankruptcy. In Austria, the branch network decreased to 27 locations, in Switzerland everyone was closed.
The location of stationary trade is difficult. According to the Germany (HDE) trade association (HDE), numerous businesses in Germany have closed their doors forever. According to a forecast, the number will drop by 4,500 to around 300,000 this year. In 2015 there were still more than 370,000.
dpa
Source: Stern
