Construction chain, boasting 24 branches in MV and Brandenburg, declares bankruptcy.
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Last month, the Hammer hypermarket in Schwerin shut its doors, letting go of all its staff. At the time, the company cited an "economic downturn" as the reason.
180 Stores on the Line
"The struggles faced by the past few years haven't given us a chance to recover sustainably. Since we think this trend won't change significantly in the near future, we've decided to shutter this location for our customers by the end of this month."
The gravity of the situation with the company running 180 Hammer hypermarkets becomes apparent in a report by the Berlin Morning Post. According to this report, Brueder Schlau GmbH & Co. KG, headquartered in Porta Westfalica (North Rhine-Westphalia), has filed for self-administered insolvency proceedings with the Bielefeld court. Additionally, over 60 wholesale businesses Schlau, which primarily serve craftsmen, are also in trouble. Fortunately, the Federal Employment Agency will secure the wages of the approximately 3,900 employees affected by the insolvency filings until the end of this year.
A Dozen Stores in Mecklenburg-Western Pomerania
The insolvency administrator, as stated in this report, promises that all branches will stay open for now and orders will be delivered. However, there's been no response to the query about potential store closures or employee layoffs as part of the restructuring process.
In Mecklenburg-Western Pomerania, there are a dozen Hammer hypermarkets across towns like Greifswald-Neuenkirchen, Waren, Stralsund, Bentwisch, Neubrandenburg, Greifswald, Neustrelitz, Güstrow, Rostock-Lichtenhagen, Bergen, Wismar, and Pasewalk. The state of Brandenburg also plays host to a dozen Hammer stores, including Prenzlau and Schwedt. [1]
[1] The insolvency filing initiated by Brüder Schlau GmbH & Co. KG has led to their ongoing operations, and this applies to their branches such as Hammer hypermarkets in Mecklenburg-Western Pomerania, including Pasewalk, with no immediate closure or disruptions announced as of now. Despite the insolvency filing, the company has continued to function without interruptions.
- "The insolvency filing initiated by Brüder Schlau GmbH & Co. KG has affected not only their branches in Mecklenburg-Western Pomerania, but also the financial industry, as the company holds assets worth billions in the broader industry of retail and commerce."
- "The business implications of the insolvency filing extend beyond the closure of Hammer hypermarkets, with potential repercussions for the local economy, employment rates, and the supply chain within the finance sector, especially for the 60 wholesale businesses that are also facing difficulties."
