82-year-old Quelle goes bust with loss of 7,000 jobs

| October 20, 2009 | 0 Comments

German mail-order company Quelle is to close down after more than 80 years of trading with the loss of 7,000 jobs.

The company spent years revolutionising the country’s retail landscape but has failed to spot customers’ move to online shopping and has subsequently collapsed after attempts to sell the firm failed.

According to services union, Verdi, all workers at Quelle in Germany will lose their jobs but activities in central and eastern Europe will continue.

The Nuremberg-based company has attempted to restructure its activities but has fallen behind market leader Otto.

Quelle was founded in 1927 by Gustav Schickedanz and the Quelle catalogue used to be a common feature in German homes.

According to Marco Atzberger, retail expert at EHI retail institute, the failure of Quelle was a result of the company’s own problems. “Quelle is a tragic story…. the company failed to integrate the online business properly and relied too strongly on the catalogue business.”

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