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.
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