Overview
- Late June Depot published an official list naming 66 specific German branches that will close and several affected stores have already begun clearance sales with a few locations already shuttered.
- The closures are part of a second insolvency in Eigenverwaltung for operator GDC Deutschland GmbH after a May filing at the Amtsgericht Aschaffenburg with Christian Gries remaining in management and Thomas Rittmeister acting as provisional custodian.
- After the announced cuts the chain will operate about 89 stores down from roughly 155 now, but ongoing negotiations with landlords and the insolvency process could still change the final scope and timing of closures.
- Depot estimates roughly 330 employees will lose their jobs, says its online shop will remain active, and is offering online and selected in-store discounts during the clearance period.
- The retrenchment echoes wider strain on Germany’s non-food retail sector since the pandemic, when Depot shrank from about 400 stores and entered its first insolvency in 2024, and reflects broader worries reported by industry surveys about rising costs and fierce low-cost online competition.