Tuesday, December 28, 2021
Ten years after bankruptcy
Schlecker is planning the big comeback
Almost ten years ago, the drugstore giant Schlecker had to file for bankruptcy. With a greatly expanded range, a holding company from Tyrol now wants to restore the brand to its old size. But the company is not entirely undisputed.
Around ten years ago, the Schlecker drugstore chain had to file for bankruptcy – the company was no longer up to the competition. Chains like dm and Rossmann overtook Schlecker. The big comeback should follow in the coming year. The Tyrolean holding company Kitzventure GmbH is planning to bring the market back into business and wants to build on the old heyday with a greatly expanded range.
The new market concept should bring the old name into the modern era. “In the future, Schlecker will no longer be a pure drugstore, but will also have a strong presence with everyday products such as groceries, office and business supplies and hardware stores,” explains Kitzventure entrepreneur Patrick Landrock in a press release.
“Our innovative technology platform will give us an advantage both online and in the branch and delivery network that the competition will find difficult to catch up again.” It will also be possible to rent entertainment and household appliances. Talks with international investors have already been held, and a decision should be made in the next few weeks whether the company will be based in Austria or Germany.
Kitzventure is not without controversy. Landrock currently has to answer to the Innsbruck Regional Court because of its business practices. The charge: serious commercial fraud. The company is said to have raised money from small investors in the form of subordinated loans and promised dream returns. The public prosecutor, however, speaks of a pyramid game. Landrock denies the allegations.
Schlecker was once the largest drugstore chain in Europe with around 47,000 employees. The deep fall followed in 2012: Schlecker filed for bankruptcy. Managing director Anton Schlecker was sentenced to a suspended sentence of two years for deliberate bankruptcy and had to pay a fine, while his children Lars and Meike even had to go to jail for aiding and abetting. Thousands of employees lost their jobs at the time.