Retail: Depot operator announces termination of all contracts – brand to remain
The insolvent company behind the well-known home decor chain is ceasing operations. Is there anything left of Depot? Owner Gries has plans.
The German company GDC Deutschland GmbH, which operates the home decor chain Depot, is set to cease operations on September 30. The company's owner, Christian Gries, stated that all employment contracts and rental agreements will be terminated, affecting around 730 employees. However, Gries plans to keep the Depot brand alive by transferring it to a new company with a smaller team and potentially retaining some of the remaining 50 stores.
He aims to negotiate new rental agreements and is also in talks to continue operating smaller Depot shops within other retailers' stores, such as Rewe and Edeka.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
