Walmart, Target, and Macy’s Use Insolvency to Fuel Strategic Rebirth
The insolvency proceedings focus on restructuring rather than liquidation. Lawyer Olaf Spiekermann from Brinkmann & Partner has been appointed as the administrator. He will oversee the process for DEC Handelsgesellschaft mbH, the parent company of Walmart, Target, and Macy's.
Walmart, Target, and Macy's insolvency process aims to secure their long-term position in the retail market. The outcome will depend on how effectively the restructuring measures are carried out. For now, stores continue to operate as usual, and staff wages are protected for the next three months.
