Overview

• The company says it has a legally binding agreement with investor consortium ReThink to buy the assets of 93 Hammer outlets, which will move to the new Hammer Raumstylisten GmbH.
• Reports differ on closures, with around 66 to 70 Hammer stores slated to shut as the group is dismantled following its June insolvency.
• The Schlau wholesale division, comprising roughly 60 markets, will be discontinued with stock sold off, and some locations could continue under new owners if local buyers step in.
• About 1,200 of roughly 3,900 positions will be retained, while management and works councils continue negotiations over social plans and an Interessenausgleich for affected staff.
• The full investor lineup behind ReThink has not been disclosed, though GA Europe is cited in company communications as a participant.