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Insolvency shock: Depot also closes branch in Bad Hersfeld!
In Bad Hersfeld, the decorative chain Depot is closing branches while the focus is on renewable energies and the festival.
Insolvency shock: Depot also closes branch in Bad Hersfeld!
The decoration chain Depot has announced the closure of its branches in Bad Hersfeld. The branch in the Rechberg area will be affected, as will the one on Heinrich-von-Stephan-Straße, which is scheduled to close this week. These measures are part of nationwide restructuring measures by the Gries Deco Company, the parent company of Depot. In doing so, they are following a trend that has been observed in the industry for some time, as Osthessen-News reports.
Overall, there are no longer any depot branches in East Hesse after an application for self-administration insolvency was filed in July 2024. This approach is intended to accelerate company restructuring. It is interesting that the review of all around 300 branches in Germany is currently underway and the contracts can be terminated at short notice and without observing the usual notice periods. Why this dramatic turnaround occurred remains unclear - when asked, the company did not comment on the specific reasons.
A new player on the market?
A possible successor for the Baden-Württemberg branch could be the textile and non-food chain Kik, which has already closed a shop on Badestube in the past but continues to operate a branch on Homberger Strasse. If we look at the Woolworth example, it becomes clear that two stores of the same retailer in Bad Hersfeld can be quite successful, as HNA notes.
The current wave of insolvencies not only affects Depot, but is part of a worrying development in Germany. In the first quarter of 2024, there were 5,209 corporate bankruptcies, an increase of 26.5 percent compared to the previous year. Consumers are also increasingly having to deal with financial difficulties - consumer bankruptcies rose by 4.8 percent. These tendencies not only have a direct impact on retail, but also on the entire economy, as [Schuldner-Insovenz-Centrum](https://www. Schuldner-insolvenz-centrum.de/pages/statistics-insolvenzen) notes.
Cultural highlights at a glance
Overall, the citizens of Bad Hersfeld have to deal with numerous challenges. In the community of Haunetal, for example, there are concerns about renewable energies, especially wind turbines. The population is worried that the community could soon be surrounded by these facilities, but Mayor Timo Lübeck does not see this as an acute threat. The developments around Depot and the cultural events show that Bad Hersfeld is a place in transition. It remains to be seen how things will develop in the coming weeks and months.