The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Wholesale Trade, Except Of Motor Vehicles And Motorcycles Wholesale On A Fee Or Contract Basis 46.18 - Agents specialised in the sale of other particular products
11,750 jobs Number of planned job losses
Announcement Date
7 March 2012
Employment effect (start)
1 April 2012
Foreseen end date
Description
At the end of January 2012, Schlecker, a major family-owned German drug store chain, filed for insolvency. 11,750 jobs cuts were announced.
The company could no longer manage a restructuring programme that was meant to raise competitiveness. On the 7th of March, the insolvency manager announced his restructuring plans for finding an investor. Plans comprised the closing of about half of all chain stores and the cutting of 11,750 jobs out of a total of 25.250. On 28 March, state subsidies to finance a job transfer agency for Schlecker employees were rejected by the Liberal Party. In the following, about 10,000 employees lost their jobs.
As reported in June, attempts to find investors for Schlecker subsidiaries Schlecker XL have not been successful. The Schlecker XL insolvency affects 1,100 employees.
UPDATE 09.10.2012: As reported in October 2012, Rossmann has hired about 2,000 of the redundant Schlecker workers, most of them from former IhrPlatz branches.
Sources
29 March 2012: Financial Times Deutschland
9 October 2012: Die Welt (online)
29 June 2012: Frankfurter Allgemeine Zeitung
28 June 2012: Süddeutsche Zeitung (Online)
Citation
Eurofound (2012), Schlecker, Bankruptcy in Germany, factsheet number 73257, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73257.
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