Galeria Karstadt Kaufhof news and archive

New start for department store chain Galeria: Court lifts insolvency proceedings

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...

Business

Department store chain Galeria Karstadt Kaufhof to change its name upon backing of US investor

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...

Business

Hudson's Bay owner and BB Kapital snap up German department store Galeria

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...

Business

German department store Galeria to streamline estate, 52 branches to close

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...