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Feneberg Food in need: What happens to the branches on Lake Constance?
Feneberg Grocery GmbH reports insolvency under self-administration. What does this mean for branches in the Bodenseekreis? Learn more.
Feneberg Food in need: What happens to the branches on Lake Constance?
Feneberg Grocery GmbH has filed for self-administration bankruptcy. This decision not only affects the company itself, which presents itself as the largest Edeka retailer in Germany with over 70 branches and around 3,000 employees, but also numerous locations in the Lake Constance district. The start of a protective shield procedure was announced last Friday and is intended to help the company find its way out of the current financial difficulties, which can be attributed, among other things, to losses, high pension obligations and structural deficits in the branch network. The insolvency of the former subsidiary Allgäu Fresh Foods has also left its mark, as Südkurier reports.
The management has commissioned the law firm Grub Brugger to advance the restructuring process. The situation at the various locations – including Friedrichshafen, Tettnang and Meckenbeuren – is of central importance. However, the law firm has assured that there are no plans for closures or restrictions on operations at these branches. An investor process has been initiated, although the exact course and potential investor concepts are still unknown.
What's next?
The employees can breathe a sigh of relief: In the current provisional procedure, all branches remain open and the supply of goods is secured. The renovation is expected to be largely completed by the end of the year, which is of great importance for the industry as a whole. The trading landscape in the Lake Constance district could thus stabilize again.
The situation is currently of great relevance not only for Feneberg groceries GmbH, but also for its customers and employees. What's happening in the markets? Might there even be an improvement in offerings as the company realigns itself? How developments will continue remains to be seen and will certainly be watched with interest. For many it is clear: the local Edeka dealer is an important part of the community and plays an important role in local supplies. Retail-News also provides further information on this topic.
The coming period will show whether Feneberg Grocery GmbH can achieve the desired turnaround with the help of the announced measures and thus secure jobs. The coming months could be crucial – both for the company and for the region.