[HIGHLIGHTS] Germany's most famous department store bankrupt: KaDeWe files for bankruptcy

The Kaufhaus des Westens in Berlin, or KaDeWe for short, is bankrupt, according to consistent media reports. An application for insolvency was filed on Friday.

The application covers the operating company and thus the department store business and the employees; around 1,900 employees are affected. The entire Ka deWe Group GmbH group of companies, which also includes the Alsterhaus in Hamburg and the Oberpollinger in Munich, is affected by the insolvencies.