KaDeWe Group with the luxury department stores KaDeWe (Berlin), Oberpollinger (Munich) and Alsterhaus (Hamburg) has filed for bankruptcy. The company told the German Press Agency that the houses will continue to operate.
Galeria Karstadt Kaufhof filed for insolvency proceedings three weeks ago. Index rents for department stores “disproportionately high” Expert sees “mega increase” in rent reading. Six-day rail strike by the GDL, but Weselsky is already threatening a new record reading.