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Depot to Close 54 More Stores as Restructuring Deepens

The insolvent retailer is reducing its physical footprint by one-third, cutting 2,000 jobs, and shifting focus to e-commerce to counter rising competition.

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Overview

  • Depot confirmed plans to shut 54 additional stores by May 2025, following the closure of 45 outlets earlier this year.
  • The restructuring will leave Depot with a reduced network of 150 to 180 stores, down from approximately 400 locations a few years ago.
  • Around 2,000 employees, out of a total workforce of 3,300, are expected to lose their jobs due to the downsizing.
  • Operations are being transferred to a new entity, GDC Deutschland GmbH, as the original Gries Deco Company is wound down.
  • Depot aims to survive by optimizing costs, prioritizing e-commerce, and competing with digital platforms and discount retailers like Temu and Action.