Reuters: Bankruptcy News: Not much left for Schlecker creditors-report

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Not much left for Schlecker creditors-report Sep 2nd 2012, 16:38 FRANKFURT, Sept 2 | Sun Sep 2, 2012 12:38pm EDT FRANKFURT, Sept 2 (Reuters) - Creditors of German drugstore chain Schlecker, which filed for insolvency in January, will have to write off most of their claims against the company, its insolvency administrators said, according to German magazine WirtschaftsWoche. "They will not be getting much money," said Arndt Geiwitz, without giving a more precise figure, WirtschaftsWoche reported. The situation is slightly better at Schlecker unit Ihr Platz, said the administrators, which also include Werner Schneider, WirtschaftsWoche reported. The administrators are in exclusive talks with an investor in Schlecker's Spanish business, the cigarette brand Commodore has found a buyer and several parties are interested in the mail pharmacy Vitalsana, they said, according to the magazine. Schlecker's real estate, estimated to be worth a low triple digit million euro sum, still has to be sold, they said, WirtschaftsWoche reported. (Reporting by Peter Dinkloh; Editing by David Cowell) Link this Share this Digg this Email Reprints

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