2024-03-16 14:19:22
The insolvent department store chain Galeria Karstadt Kaufhof could soon be sold. Nevertheless, a third of the company locations would probably have to be closed.
According to the “Süddeutsche Zeitung” (SZ), there are still four serious purchase offers for the insolvent department store chain Galeria Karstadt Kaufhof. Originally there were six, four of which are still in the running, reported the “SZ” with reference to company circles. Who the bidders are remained unknown.
However, according to the report, none of the four prospective buyers want to take over all of the remaining 92 branches. Even if the company is successfully taken over, a third of the locations may have to be closed. A breaking of the chain cannot be ruled out either, reported the “SZ”.
Relocation of the company headquarters
In addition, plans to move the company headquarters in Essen became more concrete. A month ago, “Wirtschaftswoche” reported that this was up for debate because many of the headquarters’ offices were empty.
Galeria was once again in trouble as a result of the financial problems of its owner, the Austrian Signa Group. The company had already gone through insolvency proceedings and received state aid from 2020 during the corona pandemic. In 2022 it needed further state aid, and a second insolvency procedure followed in 2023.