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Douglas revamp in focus at board meeting: source

FRANKFURT (Reuters) - The supervisory board of German retailer Douglas Holding will meet on Wednesday to discuss plans to revamp bookstore chain Thalia, a source close to the matter told Reuters.

Management consultants McKinsey have been working on a plan to reorganize Thalia, which has been battling competition from online retailers such as Amazon , the source said.

The Frankfurter Allgemeine Sonntagszeitung newspaper reported the board would also hear an update of plans from the controlling Kreke family on possibly taking the group private with the help of private equity groups.

Douglas declined to comment.

(Reporting by Matthias Inverardi; Writing by Michael Shields; Editing by David Hulmes)