Galeria Karstadt Kaufhof director Miguel Müllenbach has planned numerous discount campaigns for when lockdown regulations ease. Germany’s last department store chain may require additional aid from the state.
Germany's leading department store chain Galeria Karstadt Kaufhof will reportedly close 62 of its 172 stores, putting about 5,000 jobs at risk, as part of a restructuring plan aimed at saving the ailing firm.
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.
Hudson’s Bay Co Executive Chairman Richard Baker said on Monday he had teamed up with other shareholders to offer to take the struggling Canadian department store operator private in a $1.3 billion cash deal.
Premium outlet chain Saks Off 5th is reportedly set to leave the German market just two years after its launch. All eight stores, which sell premium fashion at discounted prices, are due to close in the summer.