Another location has been saved at the department store group Galeria Karstadt Kaufhof. The department store in Essen will remain, said a company spokesman. The employees were informed on Saturday morning shortly before the shop opened. Galeria is housed on several floors of the Limbecker Platz shopping center in Essen. The location was actually supposed to close in January 2024. As a result, Galeria Karstadt Kaufhof would no longer have had any retail space at its company headquarters in the Ruhr area city.
Germany’s last large department store group had to seek rescue again in a protective shield procedure at the end of last year. The group has now completed the insolvency proceedings. However, the restructuring process continues. The restructuring plan, which has become legally binding, provides for the closure of around a third of the last 129 branches. Most recently, however, some branches were removed from the cross-off list again after new agreements had been made with the landlords.