Without a thorough refurbishment program, the existence of Karstadt will be saved only by the end of March 2016. Therefore now must be substantial savings – for the 83 branches it means above all fewer staff and less cash
The rehabilitation of the ailing department store chain Karstadt to a newspaper report. cost more than 200 million euros. As the “Bild am Sonntag” reported was assured only until until March 2016 without a thorough refurbishment program, the existence of the chain. That would emerge from an eight-sided concept that vorliege the newspaper. It was sent to all Group executives on Friday by the Supervisory Board to the new owner Rene Benko.
Less staff and cash
In the concept of the cost of rehabilitation of Karstadt would on at least 209 million euros estimated. For a sustainable redevelopment 263 million euros would be needed. Therefore, the 83 branches stand before large incisions: The sales staff should also be reduced as the number of funds. In the Essen headquarters alone twenty percent of jobs are eliminated. In areas where the customers enhanced self-service, as with toys, will a “reduction to minimum occupation” sought.
In addition to by more part-time jobs, the stores better staffed on Saturdays as a beginning of the week. In addition, to increase yield Shopping, product range and suppliers are restructured, writes the newspaper. The fees in the Karstadt-storey car parks are expected to rise “by about ten percent.”
Lack of market knowledge
Also, will according to “Bild am Sonntag” in the paper with the former Karstadt owner Nicolas Berggruen settled. “Misguided investments, lack of market knowledge, ongoing change in strategy and in-house bad decisions” would have accelerated the decline. Without redevelopment, the losses in the financial year 2016/17 would rise to 209 million euros
Surf Tip:., The large current account comparison
Karstadt has been writing for years of losses. In fiscal year 2012-13, according to the state of the end of September have been on the books a loss of 131 million euros. For the current fiscal year 2013/14 the Group
expects a loss in nearly triple-digit millions in the video. Consuming the Germans in real-time
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