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Germany probes bankruptcy of Schlecker drug store chain

(Xinhua)

09:11, July 19, 2012

BERLIN, July 18 (Xinhua) -- German prosecutors have searched some 20 places as part of investigation into the bankruptcy of Schlecker drug store chain, police said on Wednesday.

"Under suspicion of embezzlement and delaying insolvency proceedings connected to the Schlecker group, investigators have searched 18 flats and four business premises in a number of regional states," said a joint statement by prosecutors in Stuttgart and police in Baden-Wuerttemberg.

The action involved nine prosecutors in Stuttgart and 160 police officers in Baden-Wuerttemberg.

Schlecker, one of the country's most pharmacy chain stores, was forced to close down last month, causing a total of 25,000 job losses, after it had closed nearly 3,000 stores and laid off more than 12,000 employees when it filed for bankruptcy protection in January.

The Schlecker was the biggest bankruptcy case since 1945.

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