German KaDeWe Group files for bankruptcy – company

It is one of the beacons of the late 20th century that has survived the changing times: the KaDeWe in Berlin, which belongs to the German luxury department store group of the same name. Now this is also beginning to falter in the wake of Signa’s insolvency. The group, which also includes the half-finished Lamarr department store on Mariahilfer Strasse, has filed for bankruptcy. The Berlin-Charlottenburg district court has already approved the application and appointed lawyer Christian Graf Brockdorff as provisional administrator, the company announced on Monday. The KaDeWe Group now wants to secure its future through the self-administration process; the department stores will remain open.