Schlecker family has to pay 800,000 euros in compensation – end of a chapter!

Schlecker family has to pay 800,000 euros in compensation – end of a chapter!

The Schlecker drugstore family has now finally settled their legal disputes. After the company, once Europe's largest drugstore empire, filed for bankruptcy in 2012, the family has now been ordered to pay damages of 800,000 euros. This reports Tagesschau.de.

As the information shows, the amount was paid as compensation to the insolvent temporary employment agency Meniar from Zwickau, which had previously placed employees with the Schlecker Group. After the company went bankrupt in January 2012, the rental company itself also filed for bankruptcy and proceedings were initiated against the Schlecker family for breach of trust and delay in insolvency. In the course of this, the insolvency administrator initially demanded 1.35 million euros from Meniar, but both parties ultimately agreed on a settlement of 800,000 euros, which was confirmed by the Higher Regional Court.

The history of the company

The history of Schlecker began in 1975 when Anton Schlecker founded the company, which at its peak employed over 50,000 people and generated sales of 6.55 billion euros in 2010. But in 2009 the company was already insolvent; official bankruptcy was not recorded until three years later, resulting in the closure of over 2,000 branches and the loss of around 25,000 jobs, with most of those affected being women.

The legal problems for the Schlecker family were extensive. Both Anton Schlecker and his two children Lars and Meike were prosecuted. While the children were sentenced to prison terms of two years and seven months in 2017, Anton Schlecker received a suspended sentence. He is currently 80 years old and is facing the consequences of one of the largest corporate bankruptcies in post-war German history.

Bankruptcy in Germany

Schlecker's insolvency is not just an isolated case; it reflects a larger problem that affects many companies in Germany. Loud Wirtschaftsdienst.eu Corporate insolvencies have changed in recent years. While the number of bankruptcies fell significantly between 2017 and 2019, the numbers rose again from the second half of 2022. The reasons for this include rising energy prices and loan interest rates, which are putting many companies in a precarious position.

The static figures show that young companies in particular are often affected by insolvencies. Nevertheless, even larger, established companies are not safe from bankruptcy. They also fight for survival, especially in economically difficult times.

The Schlecker story has come to an end, but it remains a memorial for many entrepreneurs and a lesson about the risks and challenges in everyday business life.