Bloomberg News

Schlecker Fate Rests With Allianz’s Euler Hermes Unit, FTD Says

May 29, 2012

German retail chain Schlecker’s future may depend on Allianz SE (ALV)’s Euler Hermes unit, which insured 300 million euros ($376 million) of unpaid deliveries, Financial Times Deutschland reported, citing Arndt Geiwitz, Schlecker’s insolvency administrator.

Prospective buyers have until June 1 to make an offer for Schlecker, FTD cited Geiwitz as saying. If none is received, he will shut the company, the newspaper reported.

To contact the reporter on this story: Alex Webb in Frankfurt at awebb25@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net


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