Germany's biggest drugstore / chemist chain "Schlecker" has filed insolvency.
"Schlecker" is operating many small chemist's shops in neighbourhoods rather that the big high street flag ships. They have larger shops in shopping centres as well but these usually have better coping mechanisms for replacing tenants.
For many property investors this insolvency will pose a problem as many of these shops are the only or one of few commercial units in predominantly residential apartment buildings. As there are not many other potential tenants with a similar concept we expect pressure on the profitability of the properties hit by this event.
If you own a property with Schlecker as a tenant or are not sure, you should get in contact with your property management right now. If you are not happy with their performance in dealing with the issue we provide a performance improvement service to help you find an appropriate business partner with a good solid contract.
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