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.
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.
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.
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.
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, <i>Der Spiegel</i> magazine wrote on Sunday.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
The bankrupt drugstore chain Schlecker will not receive money from the German development bank <i>Kreditanstalt für Wiederaufbau (KfW)</i>, the <i>Welt</i> newspaper reported on Sunday.
Bankrupt drugstore chain Schlecker will close down half of its 6,000 shops across Germany, with at least 16,000 people working there are expected to lose their jobs.
The insolvency of German drugstore chain Schlecker has also ruined its founder Anton Schlecker, who is said to have lost nearly all of his wealth, according to a his daughter.
German drugstore giant Schlecker is declaring insolvency in a desperate attempt to save stores and keep the company afloat, the company confirmed on Friday afternoon.
German drugstore Schlecker is trying to stem a public relations disaster after a spokesman said a derided advertising slogan had been chosen to fit the chain’s poorly educated customers.
Germany's biggest drugstore chain Schlecker is closing up to a tenth of its stores across the country in a bid to draw a line under the last three years of financial losses.
