As of: February 15, 2024, 1:33 p.m
By: Nadja Hoffmann
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The driving force of the Galeria chain: the branch on Marienplatz is one of the locations with the highest sales.
© SIGI JANTZ
When looking for investors for the insolvent Galeria Group, there is the first positive water level report.
Thousands of jobs are at stake.
The first purchase offers have been made for the insolvent department store chain Galeria Karstadt Kaufhof, which also operates four branches in Munich.
“We have already received several offers from an international range of bidders for Galeria,” says the provisional insolvency administrator Stefan Denkhaus to the current “Wirtschaftswoche”, without naming specific names.
“The bidders who are in the running want to acquire Galeria as a whole,” added Denkhaus.
As the magazine writes, the investment company Apollo is said to be among those interested.
The US financial investor bought a large package of department stores from the Signa Group a few years ago.
Denkhaus and Galeria boss Olivier Van den Bossche do not want to comment on the names of interested parties or offer details.
As the latter emphasizes, negotiations are ongoing at the same time with the department store landlords.
“We are talking to all landlords.
It’s not just the properties that belong to Galeria’s parent company, Signa, that we pay more than is usual in the market.”
800 employees in Munich affected
There are only four locations of the department store chain left in Munich: the branches at Marienplatz, in the OEZ, at Münchner Freiheit and at Rotkreuzplatz.
Only the Neuhausen location belongs to René Benko's insolvent Signa empire.
As reported, the building on Rotkreuzplatz has been for sale since last summer for around 100 million euros.
A total of 800 Galeria employees in the state capital are currently worried about their jobs, and there are 15,000 across Germany. They have already had hard times: the third Galeria insolvency in four years is currently underway.