German entrepreneur Nicolas Berggruen is reported to be looking at acquiring the insolvent German high street chemist retail group Schlecker.
Berggruen entered the investment process about two weeks ago and has already provided credit insurer and principal creditor, credit management and insurance company Euler Hermes, with a business concept, according to local paper Stuttgarter Nachrichten.
A decision could be made at the meeting of the committee of creditors, which is going to take place today. German press reports also suggest that Berggruen is offering €150m for the insolvent chemist group.
Schlecker has begun a restructuring that closed 2,000 shops across Germany by March 2012. Originally it planned to close 2,400 shops, but 200 of these will now remain open.
