The Local Germany

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.

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.

Austrian promises new life for Schlecker shops

Sat, 01 Dec 2012 12:01:00 +0100

An Austrian businessman is promising jobs for thousands of staff who worked at the bankrupt Schlecker drugstore chain – he plans to reopen 600 of the old shops as all-round corner stores.

500 richest Germans top Swiss GDP

Tue, 09 Oct 2012 10:59:00 +0200

Despite the eurozone debt crisis, Germany’s richest citizens are getting richer. At over €500 billion, the total value of assets belonging to the 500 wealthiest Germans exceeds Switzerland’s gross domestic product, a new ranking said.

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.

Schlecker closure means hefty bill for jobs agency

Fri, 15 Jun 2012 16:04:00 +0200

Germany's Federal Employment Agency (BA) has paid out €133 million since drug-store chain Schlecker filed for bankruptcy and will face further costs as it helps 25,000 people affected by the closure, a newspaper reported on Friday.

Ex-Schlecker staff to be offered care training

Fri, 08 Jun 2012 09:45:00 +0200

The 25,000 ex-employees of insolvent German drug store chain Schlecker could be offered training to fill gaps in Germany's workforce – such as in kindergartens or care homes - the labour minister said on Thursday.

Schlecker rescue fails, 13,000 jobs doomed

Fri, 01 Jun 2012 18:23:00 +0200

The insolvent German drugstore chain Schlecker is to be broken up with the loss of 13,200 jobs after a panel of creditors decided there was no way forward for the beleaguered business, administrators announced on Friday.

'Homeless billionaire' to rescue drugstore chain

Fri, 25 May 2012 18:34:00 +0200

US-German billionaire Nicolas Berggruen confirmed his interest in buying the remains of bankrupt German drugstore chain Schlecker on Friday.

Schlecker offers laid-off workers €500

Thu, 26 Apr 2012 16:41:00 +0200

More than 1,500 former Schlecker workers are suing the bankrupt drugstore chain after losing their jobs, amid confusion over a compensation offer of €500 made to two people who lost their jobs when the company collapsed.

Rossmann must 'beware of saturated market'

Fri, 13 Apr 2012 11:47:00 +0200

Germany's number two drug store chain, Rossmann, should look before it leaps into the gap left by the demise of rival Schlecker, German retail analysts have warned, saying the domestic market is nearly saturated.

'No' to help for Schlecker staff turns political

Fri, 30 Mar 2012 12:39:00 +0200

As around 10,000 workers at drugstore chain Schlecker found dismissal letters in their post boxes on Friday, Chancellor Angela Merkel’s coalition was riven by the refusal of her partner party to support a programme to help staff.

Schlecker workers face immediate sack

Thu, 29 Mar 2012 10:49:00 +0200

Around 11,000 employees of bankrupt German drug store chain Schlecker faced being sacked without compensation Thursday morning as a deadline passed for creating a rescue company to help them.

Last day for 11,000 Schlecker employees

Sat, 24 Mar 2012 11:11:00 +0100

Some 2,200 stores run by bankrupt drugstore chain Schlecker are shutting their doors for good on Saturday – leaving about 11,000 workers in limbo. Nearly all of the employees are women.

Schlecker tells staff who will lose jobs, starts sale

Thu, 15 Mar 2012 08:56:00 +0100

Around half the people working at bankrupt drug store chain Schlecker discovered on Wednesday evening that their shops were to be closed down – and they were out of a job.

No financial help for bankrupt Schlecker

Sun, 11 Mar 2012 13:52:00 +0100

The bankrupt drugstore chain Schlecker will not receive money from the German development bank Kreditanstalt für Wiederaufbau (KfW), the Welt newspaper reported on Sunday.