Renegotiation: Karstadt, Kaufhof makes less branches densely

Galeria, Karstadt, Kaufhof wants to lead six branches, the ailing house were wanted, the group was originally to close. The Miguel müllenbach, the Chairman of t

Renegotiation: Karstadt, Kaufhof makes less branches densely

Galeria, Karstadt, Kaufhof wants to lead six branches, the ailing house were wanted, the group was originally to close. The Miguel müllenbach, the Chairman of the Board of management, the employees informed on Friday in a letter. First of all, not the Kaufhof branches inchemnitz, Leverkusen, Potsdam, as well as dieKarstadt-closed houses, Dortmund, Goslar and Nuremberg, Lorenz Church. Garbage Bach himself had delivered to the employees in Chemnitz on Freitagdie message. Initially, Karstadt, Kaufhof had informed that the company were 62 of the remaining 172 houses must close. In the "shoulder-to-shoulder" with the Austrian company Signa, the owner of Galeria, Karstadt, Kaufhof, which is owned by the Austrian entrepreneur René Benko, be adapted to the economic conditions for these houses, however. Among the six were houses some of the largest branches of the group, with 750 employees. The trade Union Verdi had recently criticised the 6000 were jobs in danger.

Jonas Jansen

economic correspondent in Düsseldorf.

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For the remaining 56 stores the means, however, is the definitive. There is above-average Rent" and location disadvantages combine to Bach's statement". Due to the continued low frequency and the decreased purchasing power in the crisis, there was were houses, "unfortunately, there is still no economic progress leadership perspective". The garbage stream showed, nevertheless, confident that the group is "stronger from the crisis" shows could go. "I know that the survival of the necessary decisions, in particular, the closures of branches, many of them relate directly to personally," writes waste stream in the letter.

insolvency proceedings in July

had arranged for the Department store chain this week, a self-administered insolvency proceedings. The district court had announced on Wednesday that subsidiaries such as Karstadt Sports, sports arena, Galeria logistics or Karstadt are fine affected diet of it. The insolvency proceedings 1. July is the next step after the protective shield proceedings, the Karstadt and Kaufhof on 1. April had signed. So that could protect the group, first, before direct claims of creditors.

the Board of management and the Trustees had a period of three months, an insolvency plan and a rehabilitation plan. Now, creditors can log in to the administrator Frank Kebekus, the first creditors ' meeting is planned in September. The group had lost by the Corona-crisis according to its own figures, more than a billion euros in sales.

Updated Date: 03 July 2020, 06:20

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