Depot to shut all Austrian stores, cutting about 140 jobs
The décor retailer Depot announced the closure of its 24 Austrian outlets, affecting roughly 140 employees.
After the parent company's insolvency in Germany, Depot said it cannot continue its Austrian business as a separate entity and will wind down Gries Deco Austria GmbH, closing all 24 locations. Approximately 140 workers will lose their jobs, and the firm has not presented a social plan, though it expressed confidence that employees will find new positions. Customers holding vouchers are required to redeem them before the ultimate shutdown date.
The retailer will conduct extensive discount promotions to clear inventory before the final closure. The decision follows years of pressure from online competitors and low-price discount chains, which have eroded Depot's market share.
Why it matters
The closures will eliminate 140 jobs and end a 17-year retail presence in Austria.
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