NKD is a German clothing

discount store A discount store or discounter offers a retail format in which products are sold at prices that are in principle lower than an actual or supposed "full retail price". Discounters rely on bulk purchasing and efficient distribution to keep down cost ...

chain headquartered in

Bindlach Bindlach is a municipality in the district of Bayreuth in Upper Franconia in Bavaria, Germany. The town is adjacent immediately north of the town of Bayreuth. The population count of December 2006 was 7197 inhabitants. History The name Bindlach ...

, Germany. With about 2,000 stores in Germany, Austria, Italy, Slovenia, Croatia, Czech Republic, and Poland, an online shop and over 9,000 employees, NKD is one of the largest fashion retail companies in Germany.

History

In 1962 founder Burkard Hellbach opened the first retail store named NK Discount in Essen-Rüttenscheid, Germany. By 1985 the 250th store was opened and by 1989 the 500th store was opened. NKD first internationalized in 1995 via a takeover of around 100 stores owned by Hertz TPS (Tief Preis Shop) headquartered in

Wels Wels (; Central Bavarian: ''Wös'') is a city in Upper Austria, on the Traun River near Linz. It is the county seat of Wels-Land, and with a population of approximately 60,000, the eighth largest city in Austria. Geography Wels is in the ...

, Austria. In 2006 NKD entered Italy. In 2008 NKD entered Slovenia. In 2010 NKD entered

Croatia , image_flag = Flag of Croatia.svg , image_coat = Coat of arms of Croatia.svg , anthem = "Lijepa naša domovino"("Our Beautiful Homeland") , image_map = , map_caption = , capit ...

. In 2022 NKD entered Poland. Since 2007 NKD also sells its products online.

Insolvency proceedings

In March 2001 the NKD holding company filed for insolvency at the district court of Bayreuth with the insolvency proceedings starting shortly after. Around 18 months later, NKD successfully restructured and refinanced ending the insolvency proceedings.

Embezzlement scandal

In November 2013 embezzlement charges involving Euro 3.7 million were brought against former managing director Michael Krause, at that time already in pre-trial custody, and one of his employees by the prosecution Hof (district). In April 2015, Krause was convicted of embezzlement and received a six-year prison sentence.

Ownership

Founder Burkard Hellbach, who died in 2006, left NKD in 2001 and the company was integrated into the Daun Group. In 2013 finance investor

OpCapita OpCapita is a British private equity firm specialising in the retail, consumer and leisure industries. The firm invests in underperforming businesses that require operational support to improve profitability and create long-term, sustainable value ...

from London, UK bought NKD from the Daun Group and six years later private equity firm

TDR Capital TDR Capital is a British private equity firm headquartered in London, England. History TDR Capital was co-founded in 2002 by Manjit Dale, Stephen Robertson, and Tudor Capital.

acquired NKD from OpCapita.

References

External links