Uncertain Future of Schlecker Austria
After the insolvency of the German chemist chain, experts consider that the Austrian subsidiary could be sold.
Recently, the situation of the Austrian subsidiary of German Schlecker Group was described as “highly profitable”. Now, the situation turned out to be more serious. The CFO of the group considered a sale of foreign business. Schlecker runs 1,000 branches in Austria. Experts are in doubt wheter Schlecker Austria can be maintained. The management of Schlecker Austria does not provide information. For market observers, this is “no good sign”. According to the insolvency manager Ardt Geiwitz, Schlecker still has a “profitable core business”. Experts are “very skeptical”.
Until now, purchase and IT services were paid by the German headquarters. If Schlecker Austria would have to pay on its own, the subsidiary would “never be profitable”. Sales generated by Schlecker Austria will move to the two other competitors Bipa and dm, observers say. A take-over by competitors does not seem to be very likely. Also the German chemist chain Rossmann excluded to expand to Austria.
Schlecker Austria´s financial figures for 2011 are unknown. In 2010, the Austrian subsidiary recorded profits of € 8.7m. Equity stood at € 168m, liabilities totaled € 70m. Schlecker Austria´s total assets amounted to € 260m. The company employs 3,000 workers in Austria.