Galeria Karstadt Kaufhof: Court opens insolvency proceedings for Signa subsidiary. The goal is to take over at least 60 plus X branches.
If 60 branches were retained after the sale, around one in three would close and many of the 12,800 employees would lose their jobs. The number of remaining Galeria locations depends primarily on the ongoing negotiations with the landlords. The final decision on a takeover by a new owner is made by the meeting of creditors on May 28th at Messe Essen.