After the Signa bankruptcy, the Galeria department store chain is looking for a new owner. The insolvency administrator is now providing details about the exact schedule.
The sale of the insolvent department store group Galeria Karstadt Kaufhof is expected to be completed within the next two to three months. “Our goal is to have the contracts signed by April at the latest,” said the provisional insolvency administrator, Stefan Denkhaus, to the “Westdeutsche Allgemeine Zeitung” on Thursday.
The company had already announced the timetable for the search for a new owner on Wednesday. Interested parties can register their interest without obligation until February 11th. The deadline for binding offers ends on March 8th.
The first investors are already expressing interest
In the interview, Denkhaus reiterated the goal of maintaining Galeria as a whole. “If potential investors are interested in individual locations or packages of several branches, we take note of this. However, we prefer to first speak to potential buyers who want to continue running the company as a whole.”
According to Denkhaus, there has already been initial feedback from potential investors. He did not name the exact number. “There are many. That makes me optimistic,” he said. According to the provisional insolvency administrator, the company will be fully financed until late summer.
After the bankruptcy of its parent company Signa Holding, Galeria declared its insolvency at the beginning of the year – for the third time in three and a half years. The insolvency proceedings are scheduled to begin in April.