Depot closes 66 stores in Germany

GDC Deutschland GmbH, the operator of the Depot retail chain, is closing 66 stores across Germany as part of its insolvency proceedings under self-administration. The company has published a list of the affected branches on its website. According to Managing Director Christian Gries, this step is economically unavoidable as the business can only continue to operate profitable stores. The closures affect branches in major cities including Berlin, Hamburg, Munich and Stuttgart. Most of the affected stores will cease operations by the end of July following the completion of clearance sales. For the time being, just over 80 Depot branches will remain open, though their future depends on ongoing negotiations with landlords. Around 330 employees will lose their jobs as a result of the closures.

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