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Schlecker goes bankrupt, tries to save stores

German drugstore giant Schlecker is declaring insolvency in a desperate attempt to save stores and keep the company afloat, the company confirmed on Friday afternoon.

Schlecker goes bankrupt, tries to save stores
Photo: DPA

Schlecker managers said an insolvency petition would be delivered “shortly” to a court in Baden-Württemberg, where the company is based. A planned financing package is said to have fallen through, forcing the company’s hand.

The move is not expected to have an immediate impact on the company’s roughly 30,000 German employees and 17,000 abroad or result in immediate closures of its 10,000 stores.

Instead, it will buy the company time to reorganise in an attempt to keep a streamlined version of the business running.

“We believe in the viability of the company,” a spokesman said.

Reports of supply shortages and financial difficulties have dogged Schlecker recently, although managers insisted all was well, and even talked of making a profit this year after several years in the financial doldrums.

But there have been signs for some time that Schlecker was struggling. Revenues declined by hundreds of millions of euros over the past two years and 1,000 branches were closed. Meanwhile the company launched a renovation campaign in an attempt to compete with more fashionable drug retailers.

A series of highly-publicised complaints from employees who have complained of mistreatment by management, and customers who accuse the chain of being old-fashioned and stuffy also added to the firm’s woes.

The Local/DPA/mdm

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WORKING IN GERMANY

Which Bavaria-based companies regularly hire English speakers?

Bavaria is no doubt a beautiful state with a strong economy, but can be a hard place for non-German speakers to integrate. The Local takes a look at job opportunities in Germany’s southeastern 'Free State.'

Which Bavaria-based companies regularly hire English speakers?

Munich ranks third in German cities with the highest total GDP, behind Berlin and Hamburg, but in terms of GDP per capita, it’s higher than both of them.

It also consistently ranks high, often highest, in terms of average household income.

As of 2023, nine of the 40 companies listed on DAX, Germany’s stock index, were based in Bavaria. Seven of those are based specifically in Munich.

While Frankfurt is commonly known to be Germany’s business capital, Munich can claim the title of Germany’s insurance capital, which is saying something, as Germany is home to some of the largest insurance firms in the world, like Allianz.

Beyond the state’s capital city, a number of international companies are based elsewhere in Bavaria, particularly in the Franken region, near Nuremberg.

Which companies actively hire English speakers?

Bavaria, and Munich in particular, is home to a number of companies at the forefront of international business. But the state is known for its traditional, sometimes conservative, culture, which affects its business culture as well.

Whereas companies embracing English as their primary business language are easy to find in Berlin, the practice is less common in the south. That said, there are some notable exceptions. 

Sportswear giants, Adidas and Puma, both have their headquarters near Nuremberg in Herzogenaurach, and regularly recruit English speaking international talent.

“As an international company, our teams reflect the rich diversity of our consumers and communities,” Jon Greenhalgh, Senior Manager Media Relations for Adidas told The Local. “Fostering a culture of inclusion where we value and leverage differences, ensures that we can authentically engage with our employees and truly connect with our consumers.”

He added that around 40 per cent of Adidas’ Germany-based employees are foreign nationals, from over 100 different countries.

Siemens and BMW rank among Bavaria’s top employers, and are also known to hire their fair share of foreigners.

“In Germany, we recently had around 2,000 open positions,” Konstanze Somborn told The Local on behalf of Siemens AG.

He added that Siemens operates in 190 countries. “That is why we value international teams very much…English as a common language is very usual.”

READ ALSO: ‘Which German companies want to hire foreigners?’

Similarly, BMW hires workers from a variety of backgrounds. 

“Every year, we hire lots of internationals and welcome them to the BMW Group,” Dr. Hans-Peter Ketterl, a press spokesman for BMW Group told The Local. 

But not all of these positions are available to non-German speakers.

Ketterl added that BMW’s working language is German in the country, even though, “English is an indispensable entry requirement as the second corporate language in many areas of the company.”

Check job boards and follow best practices

If it’s your first time applying for jobs in Germany, make sure to change your resume to the German format, even for English positions.

While Germany is home to its own job boards, like Xing, LinkedIn is probably the best place to start. In addition to searching for positions based in your preferred location, you can check relevant groups, like Munich Startups, to broaden your horizons.

The English Jobs in Germany website is also a good resource to start with. 

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