Germany’s last major dept store chain shutters 19 stores ...Middle East

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DUSSELDORF: Germany’s last major department store chain, Galeria Karstadt Kaufhof, closed a total of 19 locations this month as part of the company’s efforts to fend off financial difficulties, reported German news agency (dpa). A list of the closing stores was posted on the company’s website. A further 22 department stores are expected to shutter in January 2024.The department store group, created by a 2019 merger between competitors Karstadt and Galeria Kaufhof, has been plagued by financial trouble and went into court-protected restructuring at the end of last year.The group has since emerged from insolvency proceedings, but the restructuring process continues. The legally binding plan ca

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Last updated : 22 June 2023 clock 02:56 PM

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Germany’s last major dept store chain shutters 19 stores ...Middle East

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