Overview
- Depot published a list this week that identifies 66 branches slated for closure as part of a further phase of its insolvency process.
- Four of the closures are in Hamburg, including the Mercado Ottensen site, and the centre also expects Jack Wolfskin to leave after the summer.
- The company says the cuts will affect about 330 staff and Reimer law firm named Thomas Rittmeister as the preliminary insolvency administrator.
- Responses at shopping centres vary: some Depot outlets have begun clearance sales while others remain open because no formal termination from the insolvency administrator has been issued.
- Centre managers report active re-leasing talks for the vacated units, and the closures highlight wider pressures on bricks-and-mortar retail that could leave longer-term gaps in local shopping centres.