German decor chain Depot terminates store leases to renegotiate terms
German decor retailer Depot has terminated all store leases to renegotiate terms, while SPD leader Lars Klingbeil invited UniCredit's CEO for talks on Commerzbank.
German home decor retailer Depot has terminated all of its store lease agreements in a bid to negotiate new terms with landlords. Owner Christian Gries stated, "Depot will not disappear," reassuring customers that the business intends to maintain its retail footprint under revised contracts.
In other German corporate news, Social Democratic Party leader Lars Klingbeil has invited UniCredit Chief Executive Andrea Orcel for discussions concerning the Italian bank's potential acquisition of Commerzbank. Meanwhile, traditional toy manufacturer Schleich is reportedly facing a potential takeover, while aerospace firm Isar Aerospace secured €200 million from the European Space Agency.
Sources: FAZ.