Schlecker May Close Hundreds of Stores in 2012, Welt Reports

Schlecker may close hundreds of stores in 2012 in a bid to cut costs, Welt am Sonntag reported, citing an interview with Achim Neumann, the Ver.di trade union official responsible for the drugstore chain.

“We expect the closing of several hundred branches,” the newspaper quoted Neumann as saying in an e-mailed preview of an article to be published tomorrow.

Welt cited Lars Schlecker, a member of the company’s management board, as saying the “first quarter will be affected by closures.”

To contact the reporter on this story: Naomi Kresge in Berlin at nkresge@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net

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