Store shutdowns approaching as Kaiser’s supermarket on brink

The destiny of a loss-making supermarket sequence Kaiser’s Tengelmann stays uncertain, as a company’s CEO is deliberation shortly shutting down dozens of stores and slicing thousands of jobs to keep a uneasy sequence afloat.

Kaiser’s Tengelmann now runs around 550 stores in 3 regions in Germany. In Munich and southern Bavaria it operates underneath a name Tengelmann. In Berlin and North Rhine-Westphalia it operates underneath a name Kaiser’s.

Germany’s largest supermarket chain, Edeka, has been perplexing to buy a company. The squeeze was initial quashed by German anti-trust regulators, and afterwards though authorized by German Vice-Chancellor and Economic Affairs Minister Sigmar Gabriel, though competitors subsequently filed a authorised complaint, that once again has put a understanding on skinny ice.

Whether Edeka’s fullness of Kaiser’s can pierce brazen will be motionless by a German Court of Justice subsequent month.

But in a meantime, a supermarket’s employees wish answers. Its 5,300 Berlin employees are ostensible to plead a destiny of their positions during a staff assembly on Thursday.

CEO Karl-Erivan Haub pronounced he wanted to strech an agreement by Friday with both Edeka and competitors who conflict a deal, like Rewe and Norma.

If a sequence can't find a solution, Haub has pronounced he will immediately start offered off particular stores, that would meant thousands of pursuit losses, quite impacting North Rhine-Westphalia.

Edeka and trade kinship Verdi would cite Edeka to have a finish takeover of Kaiser’s Tengelmann, that would save many jobs.