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Galeria, Karstadt and Kaufhof: These six branches will not be closed

Germany’s last big house group Galeria
Kaufhof (GKK) wants to be close to concessions, the landlord six branches less than originally planned.

For these were houses, there is now a perspective for the future, said the Chairman of the Board of management Miguel müllenbach on Friday in a letter to Employees:

  • Dortmund, Germany (Karstadt)
  • Nuremberg, Lorenz Church (Karstadt)
  • Goslar, Germany (Karstadt)
  • Potsdam (Karstadt)
  • Chemnitz (Kaufhof)
  • Leverkusen, Germany (Kaufhof)

Around 750 employees keep their jobs.

Galeria, Karstadt and Kaufhof: 56 stores continue to be without a future

In difficult negotiations, it had managed, the economic environment has to be adapted so that the branches could be continued, – said the Manager, who himself led the negotiating team. For the remaining 56 homes were on the closure list, there is in the face of high Rents and socio-demographic Disadvantage, however, is still “no economic progress leadership perspective”.

Only two weeks ago, the retail giant had announced, to the horror of many employees and the affected communities, the closure of a total of 62 branches in 47 cities. The GKK-General Manager Arndt Geiwitz said at the time: “This step is without Alternative, because these stores threaten the total existence of the company.” A little later it became known that the group also wants to close 20 out of 30 branches of the subsidiary Karstadt Sports, and up to 24 branches of Karstadt feinkost.

Map: These sites continue to be affected by the closure

In the affected municipalities, the announcements, in many cases, led to concern that the depopulation of the inner cities. The Vice-President of the German Association of cities, Markus Lewe, said: “The mass closures of stores at Karstadt
for the affected cities, a deep incision. With these Department stores is a place of care and encounter, is lost.”

Galeria, Karstadt, Kaufhof was advised by the pandemic closure of all branches of a conditional in a serious crisis and had to look at the beginning of April the rescue in a protective shield procedure. The group expects a result of the pandemic and the triggered economic downturn until the end of 2022, with a loss of turnover of up to EUR 1.4 billion.

Matthew Velter
Matthew Velterhttps://etrendystock.com/
With 5 years of experience as an editor, Matthew has been a crucial part of eTrendy Stock since its inception. He looks after the editing of news content published on eTrendy Stock. Apart from investing his time in editing, he also provides well-researched news articles for the U.S. niche. Mathew studied at University of central Florida.

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