Depot: retail chain in Switzerland insolvent
The German parent company has been in serious difficulties for some time. Now all 34 branches in this country are closing down.
The Swiss subsidiary of the decoration chain Depot filed for insolvency in the canton of Thurgau at the end of January. According to the company's press office, no solution had been found to maintain the operation of the stores. The company, which primarily sells interior design accessories, operated a total of 34 locations in Switzerland.
Depot is part of the Gries Deco Company based in Niedernberg, Bavaria. In July last year, the company entered into so-called protective shield proceedings - insolvency proceedings that are conducted under self-administration. At the time, it was stated that the locations in Switzerland would remain unaffected. Meanwhile, a wave of redundancies took place in Austria and it was reported that the German parent company intended to acquire some of the branches and continue operating them. In Switzerland, Migros has since acted as a partner in Depot's activities. (aw)
