The Galeria Karstadt Kaufhof department store chain, which was recently permanently insolvent, is set to retain a surprising number of locations. How the decision came about, what it means for the employees – and why many Signa-owned branches remain.
When the decision was made, after many weeks of hard work, those responsible at the Galeria department store chain allowed themselves a little self-praise. “We all fought and committed ourselves,” wrote insolvency administrator Stefan Denkhaus and Galeria managing directors Olivier Van den Bossche and Dirk Mager in an internal letter to their employees at the weekend, which is available to Capital. “That deserves the highest respect and great recognition, especially in these recently very turbulent times.”
Source: Stern
