Overview
- A radical clearance sale that began on December 27 produced long lines and, on Saturday, more revenue than the entire month of November, according to the company.
- About 115 employees are affected and are reported to receive severance payments totaling several million euros, with average tenure around 19 years.
- Management plans to sell remaining inventory by the end of March, with on‑site goods valued at roughly €12 million.
- The 14‑storey showroom on Genthiner Straße, often described as Germany’s tallest furniture store, is slated for conversion to housing and commercial space.
- The company cites declining sales, high energy costs including electricity for about 6,000 spotlights, and difficulty replacing experienced sales staff.