×
3 833
Fashion Jobs
NGG
Revenue Operations Manager
Permanent · LONDON
DEBENHAMS
Key Account Manager
Permanent · LONDON
BOOHOO
SEO Assistant & Copywriter
Permanent · MANCHESTER
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · INVERNESS
FRASERS GROUP
General Kitchen Manager
Permanent · SHIREBROOK
URBN
Free People Keyholder - Duke of York, London (16hrs)
Permanent · LONDON
URBN
Free People Keyholder - Duke of York, London (32hrs)
Permanent · LONDON
HARVEY NICHOLS KNIGHTSBRIDGE
Security Officer
Permanent · LONDON
AESOP
Retail Consultant | Aesop Harrods Counter London | Full Time
Permanent · London
VF INTERNATIONAL
Credit Controller - German Speaking
Permanent · CALVERTON
NEW BALANCE
Associate Trade Marketing Manager, Lifestyle
Permanent · Warrington
AVON
Head of Compliance And Risk
Permanent · NORTHAMPTON
MATCHES FASHION
Accounts Payable Assistant
Permanent · LONDON
I SAW IT FIRST
Head of Creative - i Saw IT First & Missguided
Permanent · STRETFORD
HOUSE OF FRASER
Loss Prevention Supervisor - House of Fraser
Permanent · DARTFORD
EVERLAST GYMS
General Manager - Everlast Gyms
Permanent · SELBY
MULBERRY
Customs Entry Coordinator
Permanent · SHEPTON MALLET
SELFRIDGES
Finance Manager - Stock
Permanent · LONDON
NEXT
Sales Manager - Stockton Teesside Retail Park
Permanent · THORNABY
NEXT
Sales Coordinator - Blackburn The Mall
Permanent · BLACKBURN
NEXT
Stock Coordinator - Merthyr Tydfil
Permanent · MERTHYR TYDFIL
NEXT
Sales Coordinator - West Bromwich
Permanent · WEST BROMWICH
Ads
By
Reuters
Published
Apr 2, 2020
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

German department store Galeria files for creditor protection

By
Reuters
Published
Apr 2, 2020

​German department store chain Galeria Karstadt Kaufhof is seeking protection from creditors to stay afloat, it said on Wednesday, after nationwide store closures to help to contain the spread of the coronavirus.


Reuters


Galeria said that all its outlets have been closed since March 18, leading to about 80 million euros ($87.5 million) of lost weekly revenue while the company continues to incur the bulk of the costs.

“The goal of the protection proceedings under self-administration is to make use of legal options to cope with the store closures imposed by authorities without a massive increase in financial debt,” it said in a statement made available to Reuters.

Germany’s federal and state governments last month agreed to shut non-essential shops as part of sweeping rules to slow the spread of the virus.

The company’s filing, which also covers sporting goods retailer Karstadt Sports, had been accepted by a court in the city of Essen, it added.

Frank Kebekus has been name preliminary administrator, a spokeswoman for Duesseldorf-based insolvency law firm Kebekus und Zimmermann said, confirming a report by weekly WirtschaftsWoche.

The store chain’s owner Signa, the investment vehicle of Austrian property and retail investor Rene Benko, was not immediately available for comment.

© Thomson Reuters 2023 All rights reserved.