Store closure programme with minimum guarantee for Bendix
After 54 years, the owner of the textile department store BENDIX (located in Germany) filed for bankruptcy in Duitlsand. The administrator instructed GA Europe to carry out the process for closing the textile department store from March 2016 to May 2016.
GA Europe provided a minimum guarantee for the exploitation proceeds of the inventory.
GA Europe has put a small experienced team of German Retail experts in the department store.
GA Europe has implemented the sale and closing program in close in cooperation with the previous owner and organized the following items:
- POS materials.
- Weekly (designed by us) advertising in the local daily newspaper.
- Daily discount and inventory management at category level.
- Reprint and attach price labels of up to 60% of the inventory at the original sales price.
- Personnel planning during the entire closing process.
- Sales store fixtures and broom clean delivery to the administrator.
The department store was closed in 12 weeks.
GA Europe's retail operational expertise had an immediate and significant impact upon the chain's trading performance, increasing 220% and the buying customer to 340% like-for-like sales.
The closure of the department store took place in a very good and cooperative partnership with the former owners and employees.