31. 07. 12. - 13:35
Shoe firm loses millions
The Styrian shoe firm "Leder&Schuh" has lost millions manly though the operation's of newly acquired daughter company "Stiefelkönig", the firm announced this week.
The management revealed that the losses last year had tripled up to 25 million Euros.
The main reason for the Stiefelkönig losses was the firm's shops in south-east-Europe which were running up major losses, with the company forced to pull most of the shops from countries like Croatia and Slovenia.
However, the closing of shops is costing the company millions as well. Chief executive, Gottfried Maresch, said that the closures of shops was the main reason for the deficits.
And in the future more money will be invested into construction and location planning.
Due to shop closures about 150 employees have lost their jobs so far.
Even thought the numbers have been in the red for a while now, Gottfried Maresch is optimistic and said that he still believes to be able to turn it back around.
"Leder&Schuh" is a market leader in Austria and owns companies such as: "Humanic", "Jello", "Shoe4you", "Corti" and "Dominici" - and since 2011 "Stiefelkönig".
After "Leder&Schuh" the market leaders are "Deichmann" in second place and then "ANWR Garant", "Ringschuh" and "Salamander".