NKD, which has been licensing the Wild Roses brand of women's outdoor apparel from its Swiss owners, has presented a business plan to get over its own financial problems. In collaboration with a consulting firm, Ziems, its parent company, Daun, has developed a cost reduction program with the banks and other creditors. The discount fashion retailer, which has nearly 2,000 shops in Germany, Austria and Italy, will close down unprofitable stores and eliminate 93 of the 638 jobs at its head office. The company will invest around €45 million in the remaining stores and then expand again from 2015. Reports indicate that Daun is still planning to divest NKD at some future stage. Discussions with potential buyers have already started. We could not determine what the company plans to do with Wild Roses, but the reports point to its intention to eliminate secondary activities, without specifying them.
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