Overview
- Pieper said it has agreed on key terms with the French Konckier family to assume control of the business.
- The changeover is planned for July 1 through an insolvency plan and still needs approval from the responsible authorities.
- The current owning family will step back from day-to-day management as the transition proceeds.
- Both sides state that their goal is to keep as many stores open and as many jobs in place as possible.
- Founded in 1931 in Bochum, the chain entered self-administered insolvency in November and now operates 113 shops after nine closures announced in February.