Friday, September 23, 2016

Kaiser’s Tengelmann: All signs point to smashing –

The future of Kaiser’s Tengelmann is more uncertain than ever. But today, the Supervisory Board of the supermarket chain could create clarity: with the decision for the smashing. One way could be for almost every other employee to the existence of a threat.

A “workable, common solution” for Kaiser’s Tengelmann, at least all the parties Involved in the crisis summit were the future of the loss-making supermarket chain agreed. For hours, representatives of Rewe, Edeka, Tengelmann itself, as well as of the market chain Significantly, and the trade Union had ver.di advise. But more than beautiful words came out not at the end.

Today, the Supervisory Board of Tengelmann this Back – and-Forth, the group could finally put an end to it – but for the employees in the supermarkets, it could be a painful end. Economic expert Paul Reifferscheid expressed in the presumption that at the meeting “the smashing of the trade chain, quasi-is initiated”.

Almost every Second employee soon without a Job?

which would mean that the Tengelmann-stores will be divided among the interested parties – at least those that are still there. Reifferscheid speaks of a “death” in Tengelmann: “a few years Ago, we have had nationwide 500 stores, at the end of the year, it is going to be around 400.”

But in the existing stores, around 16,000 employees are working after all, and a decision of the Supervisory Board for the smashing could mean for almost every Second of the job loss. Although Rewe chief Alain Caparros stressed at the summit on the crisis, again, that this is the only way the jobs could be saved – but the fact is: Many shops write for years in the red. The extent of the losses for Kaiser’s Tengelmann, has built up within 15 years to a total of 500 million euros. And branches, the cash in only Bad, from an economic point of view, this is also reifferscheid.

It threatens a case, à la Schlecker

But there was also the second rescue scenario: The desired complete takeover by Edeka – Tengelmann, and Edeka, Germany’s Economics Minister Sigmar Gabriel by Minister permit to be approved on the part of Rewe by proceedings before the higher regional court of Dusseldorf stopped.

Minister approval

the cartel office prohibited the merger of two companies, so they can apply according to § 42 of the German act against restraint of competition (GWB) within one month after the ban at the Federal Ministry of the economy, a so-called Minister approval . This then has to decide a period of four months. He can rely on the recommendation of the monopolies Commission, not only follow her but.
At the time of Ministerial approval, the potential total economic benefits of the focus of attention, especially the preservation or the creation of labour – in contrast to the cartel office, the checks alone competition restrictions.
competitors of the fusion candidates can complain at the end against the Ministerial approval.

In last night showed once again that the Acquisition remains a barely viable solution. Neither Rewe nor the other interested parties, such as Striking or Norma indicate the willingness of their actions and to make the way for the Tengelmann Edeka marriage.

It seems almost inevitable that the destruction and in order for the redundancies to come. What would be very bitter, says Trade economist Prof. Gerrit Heinemann of the Hochschule Niederrhein says. Many years ago, Tengelmann had waived employees in part on their salary, in order to allow the supermarket chain, however, still continue to exist. Now a similar case threatens, according to Heinemann as in the case of the Bankruptcy of the drugstore chain Schlecker. Who is taken over by the new owners, depends on age and qualification – what does that mean: a good chance for the Younger ones, the difficult prospects for the Elderly.

Lack of competition would tax

But also the consumer would get the smashing of the chain to be felt in the long term. Because Tengelmann, a competitor will be lost in the food trade – and in an industry that is now dominated by eh, only four major retail chains, such as Reifferscheid explained. “And the lack of competition drives the prices high,” said the economic expert. Just away from the big cities, in regions, in which within walking distance perhaps only one or two super markets, is the Lack of Tengelmanns to be felt.

And also for the producers of the food rises, the pressure rises. With Tengelmann, a buyer for their Goods would be eliminated, and thus automatically profit in the Fund.


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