Retail: This is how Mäc Geiz should be renovated

The plan for the reorganization of the discounter is in place: around 60 locations are to close. Now the creditors still have to agree and forgive debts.

The insolvent non-food discounter Mäc Geiz is continuing to operate most of its branches. The company announced that 123 locations have been secured. According to the information, around 60 of Mäc Geiz's previously more than 180 branches will be closed as part of the ongoing insolvency proceedings. A list of affected stores was not published.

According to the announcement, the service and logistics center at the company headquarters in Landsberg in Saxony-Anhalt will remain in place. It was said that 850 jobs could be saved. When asked, it was not stated how many people would lose their jobs. In the spring, the retail chain said it still had almost 1,200 employees.

According to the company, the creditors are expected to vote on the restructuring plan for Mäc Geiz at the responsible district court in Halle (Saale) in December. This is intended to create the basis for relieving society of debt and putting it on a solid economic footing.

“We are convinced of our business model and are pleased to be able to continue to offer our customers our product range at many locations in the future,” said Rüdiger Grommes, Managing Director of Mäc Geiz. In the future, the discounter wants to score points with, among other things, new products and expanded product ranges.

Mäc Geiz Handelsgesellschaft mbH filed for insolvency under self-administration in May. The discounter justified this with the ongoing reluctance to buy. In view of the difficult economic situation, it was necessary to fundamentally reposition ourselves, it was said.

Kodi also bankrupt

Mäc Geiz sells everyday products such as household goods and drugstore items as well as stationery. The chain competes with retailers such as Action, Tedi and Woolworth, among others. The branches are mainly located in Eastern Germany.

Mäc Geiz changed hands at the beginning of the year. Kodi Beteiligungs GmbH, which also owns the discounter Kodi, took over the chain. Kodi also filed for bankruptcy in July this year. At the beginning of October it was announced that 43 branches were closing. According to the information, around 100 will continue to operate.