Almost seven months after Galeria Karstadt Kaufhof filed for bankruptcy for the third time in three and a half years, the Essen District Court in Germany has given the green light for a fresh start. The district court has decided to lift the insolvency proceedings as of July 31, according to a statement on Monday. The creditors had already...
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Beauty products, handbags, shoes, underwear - these are to be the focal points of German department store chain Galeria Karstadt Kaufhof's product range in future. ‘This will enable us to clearly differentiate ourselves from the competition,’ the company's managing director, Olivier Van den Bossche, said on Tuesday. For beauty products such as...
NRDC Equity Partners, the New York-based parent company of Hudson’s Bay, and BB Kapital SA, the investment firm of businessman Bernd Beetz’s family, have come together to acquire German department store firm Galeria Karstadt Kaufhof GmbH. The consortium have joined hands as part of Galeria’s insolvency plan, with the company’s administrator...
German department store chain Galeria Karstadt Kaufhof has announced plans to close 52 of its 129 branches as it looks to streamline its estate to “secure” its future. The branches will be closed in two waves - on June 30 of this year and January 31 next year - with a total of around 4,000 employees affected, and a further 300 jobs lost at...