Tuesday, August 19, 2014

German department store AG: merger with rival: Is that the secret plan for … – ABC Online

German department store AG: merger with rival: Is that the secret plan for … – ABC Online

Monday , 08.18.2014, 12:28

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Karstadt is after the change of ownership to undergo profound changes. Within two years of investor René Benko wants to restructure the department store chain. Then should follow his next coup: The merger with Kaufhof for German department store AG

After the change of ownership at Karstadt the leadership of the ailing department store chain wants to lose no more time in the rehabilitation group. . “There is much to do, we will take the next important steps,” said Supervisory Board Chairman Stephan Fanderl the “Handelsblatt”. “The new owners now there is finally clarity.”

On Friday it was announced that the former owner Nicolas Berggruen, the 83 remaining Karstadt department stores and the remaining stake in the premium stores and in the 28 sports stores for one euro to the Austrian investor Rene Benko sold. Already this Thursday, the Supervisory Board will provide advice to the current plans on the reorganization.

So far no calls

According to the report, the business paper looks Benkos rescue plan, sustained heavy losses Karstadt stores to close. Attractive locations should therefore be transformed into shopping malls with brand dealers. The group itself would be re – with new organizational and information technology. One to two years will quote Benko for the conversion, reported the “Handelsblatt”. Then skidding his real target in the foreground. Creating a German department store AG, which is the merger of Karstadt with the rival Kaufhof

Benko annoyed that at Kaufhof of eigenommenen 100 euro remained 48 Euro contribution margin, writes the “Handelsblatt”. At Karstadt there were only 40 euros. With a merger would create a department store in Germany monopolist. Currently there are between Benko and Metro but no talks, it hot out circles of the Düsseldorf trade group.

There is a “FOCUS” list, which is roughly 20 deficient Karstadt stores stood, reported the “Handelsblatt”. Each of these houses come under scrutiny. Give it a chance to bring the site into the black, it would be closed. This could once be expensive. Employee would have resigned, goods are written off and Benko would have to buy out of leases. 15 million euros, according to industry experts taste the per site.

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Karstadt employees disappointed for more information and to download

The union Verdi called for under its new Karstadt owner on to present a comprehensive approach for the future of the ailing department store chain. “It must be sound, it must be sustainable. It needs a strategy. These include: How should look the assortments, as should be directed at the individual sites, the houses, so that jobs are safe, “said Verdi national board member Stefanie Nutzenberger on Bavarian Radio

The Karstadt employees are after. their words from the previous owner Nicolas Berggruen “bitterly disappointed”. You would have expected Berggruen “with a high level of motivation and, above all, with money at Karstadt goes that investments be made”. But this was not done in this form. Berggruen had acknowledged at the “image” error in the management of Karstadt, at the same time but rejected claims to have enriched themselves at the company.

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