For the Galeria branch on Rotkreuzplatz, 18 percent of sales are due, and for Oberpollinger in the city center it should be even more. But due to their bankruptcy, the department stores can now renegotiate their rent.
When Philipp Kretzer looks at the sales of the four Galeria department stores in Munich, he can actually be satisfied. “All Munich branches are in the black,” says the southern regional manager of Galeria Karstadt Kaufhof, responsible for Bavaria and Baden-Württemberg. In the last financial year, all four houses increased compared to the previous year and were “relatively close to pre-Corona levels again”.