Galeria Kaufhof Successfully Concludes Insolvency Proceedings
Monday, 29 July 2024, 11:10
Overview of Galeria Kaufhof's Insolvency Resolution
The department store chain Galeria Kaufhof, previously under the control of Signa Holding, is concluding its insolvency process which lasted nearly seven months.
Court Ruling and Future Operations
- The Essen District Court decided to end the insolvency proceedings as of July 31.
- Subsequently, Galeria will take full responsibility for its operations starting August 1.
Scope of Galeria Kaufhof's Business
- Galeria operates a total of 83 stores.
- Employing around 12,000 people.
This resolution is crucial for future stability and growth of the brand within the competitive retail landscape.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.