Galeria Karstadt Kaufhof is seeking a new owner, whose real estate group has made several insolvency filings.
ADVERTISEMENTGermany’s last remaining major department store chain has filed for insolvency protection, its third filing in less than four years, after its owner ran into difficulties.
Galeria Karstadt Kaufhof, which currently runs 92 stores and employs more than 15,000 people, said it filed for insolvency at a court in Essen, German news agency dpa reported on Tuesday. The company is seeking a new owner and talks with potential investors are already underway.
The move follows insolvency filings by several companies in the trading and real estate group of Austrian businessman Ren Benko including Signal Retail Selection…
Read the full article at: https://www.euronews.com/business/2024/01/09/germanys-last-major-department-store-chain-files-for-insolvency-protection-for-third-time