The Local Germany

260,000 cancelled Germania flight bookings won't be refunded

Fri, 08 Feb 2019 17:29:27 +0100

Germania airlines today announced that over a quarter of a million flight bookings with the airline will not be reimbursed or refunded. The flights were cancelled after Germania declared insolvency earlier in the week.

'Competition is fierce': Another German budget airline goes down as sector struggles

Wed, 06 Feb 2019 09:52:17 +0100

Budget airline Germania has filed for bankruptcy, becoming the latest low-cost carrier to go under after the highly competitive industry suffered from rising fuel prices last year. We broke down some of the challenges facing low-cost airlines and asked if the industry can recover.

Dildo chain stretching across length of Germany goes broke after 70 years

Fri, 15 Dec 2017 12:14:24 +0100

Germany's pioneering sex shop chain Beate Uhse said on Friday that it has filed for insolvency, as the empire started by a female Second World War pilot fails to rise to the challenge posed by erotic e-commerce.

Drug store tycoon found guilty of embezzlement before ‘biggest wave of layoffs since WWII’

Mon, 27 Nov 2017 16:32:33 +0100

A German court on Monday handed former retail tycoon Anton Schlecker a suspended sentence and jailed two of his children in a high-profile case over their family-owned chain's criminal bankruptcy.

‘For Air Berlin €1,400 is nothing, for me and my family it is a huge amount of money’

Mon, 30 Oct 2017 16:33:52 +0100

People who booked with Air Berlin back in July thought they were saving themselves money by planning ahead. Now, they have been left with the cost of buying flights close to departure day with no compensation in sight.

Air Berlin to ground all flights by end of October

Mon, 09 Oct 2017 17:41:00 +0200

Bankrupt German airline Air Berlin must ground all flights by the end of October, the firm said Monday, as talks continue with prospective buyers Lufthansa and Easyjet.

German drug store tycoon goes on trial for embezzling millions

Mon, 06 Mar 2017 14:38:34 +0100

Former German retail tycoon Anton Schlecker went on trial Monday, five years after his drugstore chain collapsed, accused of having stashed away millions in corporate assets before the bankruptcy.

Snoop Dogg no-show bankrupts Munich club

Fri, 02 Oct 2015 12:22:27 +0200

A venue owner in Munich has filed for bankruptcy after American rapper Snoop Dogg angered club regulars by failing to turn up for a gig.

Workers forced to stop at 'unsafe' BER airport

Mon, 21 Sep 2015 18:37:47 +0200

Work on Berlin's much-delayed new BER airport has suffered another setback as builders had to down tools on Monday over fears that the roof could not support the air conditioning units that have been installed.

Stop the bus, ADAC wants to get off

Mon, 10 Nov 2014 17:03:00 +0100

Bankruptcies at smaller players and ADAC's decision to throw in the towel show an intercity bus market red in tooth and claw.

TV-maker Loewe files for bankruptcy

Tue, 01 Oct 2013 16:23:00 +0200

One of Germany's original electronics makers, Loewe, said on Tuesday it had filed for bankruptcy. The household name did voice hope that an investor could come to its rescue.

Final nail in coffin for Max Bahr hardware

Fri, 26 Jul 2013 12:09:00 +0200

Hardware store chain Max Bahr declared insolvency on Thursday, just weeks after its huge parent firm Praktiker went under. The chain was, experts thought, going to be safe from the collapse.

Last big German TV maker fights for survival

Tue, 23 Jul 2013 10:34:00 +0200

Loewe, Germany's last major manufacturer of high-end televisions, is fighting for survival in a sector increasingly dominated in recent years by Asian rivals, filing for protection from its creditors as it hunts for new investors.

Firms run by women 'less likely to go broke'

Tue, 16 Oct 2012 12:32:00 +0200

Companies run by women are less likely to go bankrupt thanks to their holistic approach to business, a study from the German finance ministry suggested on Tuesday.

Liquidation beckons for Neckermann online

Wed, 26 Sep 2012 14:11:00 +0200

Around 2,400 people working at bankrupt mail order business Neckermann were preparing to lose their jobs Wednesday, after insolvency administrators said they were going to liquidate the company.

Schlecker boss 'paid family business assets'

Sun, 12 Aug 2012 17:08:00 +0200

Prosecutors investigating drugstore founder Anton Schlecker suspect him of having paid his wife €60,000 a month for years leading up to the Schlecker bankcrupcy, Der Spiegel magazine wrote on Sunday.

Five million shopped at Schlecker in final month

Sun, 05 Aug 2012 14:25:00 +0200

More than five million people went shopping at drugstore chain Schlecker in July - to take advantage of its closing down sale as the national chain hit bankruptcy and shut up shop.

Neckermann bankrupt, 2,400 jobs at risk

Thu, 19 Jul 2012 14:21:00 +0200

Germany's original mail-order clothing firm Neckermann filed for bankruptcy on Wednesday after its investor refused to finance its restructuring, putting 2,400 jobs at risk. It adds to the dismal retail industry news in the country.

Schlecker homes raided on suspicion of foul play

Wed, 18 Jul 2012 17:41:00 +0200

The collapse of drug store chain Schlecker became the focus of a criminal investigation on Wednesday after police raided more than 20 homes and offices, including the villa of company founder Anton Schlecker.

Schlecker stores close doors for last time

Wed, 27 Jun 2012 17:52:00 +0200

Thousands of Schlecker shops, once Germany's largest drug store chain, closed its doors for the last time on Wednesday afternoon, pushing thousands of people out of work.