GERMANY: NKD May Close 20 Hummel & Edenhofer Stores
German textile discount chain NKD Vertriebs GmbH may be forced to shut up to 20 of the 65 stores belonging to its sector group h+e markt Hummel & Edenhofer Handels GmbH, according to a company spokesman.
NKD will try to save some of the 260 jobs involved and agree a social scheme for employees who have to be laid off, German News Digest said.
The chain acquired Hummel & Edenhofer Handels on 3 September 2004, simultaneously taking on its 350 employees.
NKD, which was bought by the Daun & Cie AG group in 2003, operates 850 stores in Germany and 210 outlets in Austria.
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