2024-07-27 15:17:08
There is probably a future for KaDeWe and other department stores operated by the company. However, 100 employees will have to leave the company.
At the troubled KaDeWe Group, which includes the luxury department store of the same name in Berlin, all department stores are to be retained. “The future owner has informed us that the rental negotiations for the Alsterhaus and the Oberpollinger have been successfully concluded,” the management of the KaDeWe Group told employees in a letter that was made available to Reuters on Friday.
This marks another milestone for the company. The KaDeWe Group was initially unavailable for comment. The group is about to be taken over by the Thai Central Group.
The future operator no longer has any use for around 100 employees, the letter continued. This affects 70 employees from administration. They have already been informed about benefits from the reconciliation of interests and the social plan.
“As a strategic investor, the new owner of the new KaDeWe GmbH can help achieve long-term goals and consolidate the position in the luxury segment of retail,” wrote the management with regard to the Central Group. The KaDeWe Group with its three luxury department stores was previously part of the Signa Group of the Tyrolean investor René Benko, which had slipped into insolvency.
In January, the Charlottenburg District Court in Berlin approved the KaDeWe Group’s insolvency application. On August 1, the business will be transferred to the Central Group, which also owns the KaDeWe property in Berlin.