On Friday, German cosmetics and food chain Schlecker announced that it's about to start a bankruptcy procedure. A company spokesperson said the aim is to save as many jobs as possible. Business will continue as usual for the next three months, after this period German trade authorities will decide whether the company will be pronounced bankrupt or will be allowed to continue after some changes.

Schlecker currently has 20 stores throughout Luxembourg, employing 100 to 120 people. In a sign that doesn't bode well, trade union LCGB is inviting Schlecker staff members to attend information meetings, where they can find out about their rights and future job opportunities.

Apart from Germany and Luxembourg, Schlecker also has stores in Austria, the Czech Republic, Hungary, Poland, France, Spain and Italy.