Bankruptcy of Depot decoration stores in Switzerland
Keystone-SDA
The Depot home supplies chain has entered bankruptcy proceedings in Switzerland. A total of 34 branches are affected.
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A notice was filed with the canton Thurgau authorities on Thursday. “Despite major efforts to stabilise the financial situation, no viable solution could be found to maintain business activity in the long term,” Depot said in a statement on Friday.
The economic context and various external factors have weighed on business, and negotiations with banks have been unsuccessful, the company points out, adding that payment of salaries for the month of January has still been secured.
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However, the company gave no details of when the stores would close or how many employees would be affected, stating only that “the coming weeks will be devoted to planning the next steps in close collaboration with all concerned”. Customers with outstanding orders or gift vouchers are invited to contact customer service.
According to information relayed by various German-language media, the stores are due to close on Friday, leaving some 300 employees out of work.
The German parent company, Gries Deco Company, which has some 3,000 employees and 300 subsidiaries in Germany, Switzerland and Austria, has been in insolvency proceedings since mid-2024.
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Translated from German by DeepL/mga
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