As of: March 26, 2024, 3:19 p.m
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The Galerie Karstadt Kaufhof department store chain claims to employ more than 15,000 people.
© Jörg Carstensen/dpa
Galeria Karstadt Kaufhof has received four binding takeover offers.
The insolvency administrator now wants to negotiate with two interested parties and complete the sale by April.
Essen - Four binding purchase offers have been received for the insolvent department store chain Galeria Karstadt Kaufhof.
The company now wants to finally negotiate a purchase with two interested parties, the provisional insolvency administrator, Stefan Denkhaus, announced in Essen.
The company filed for insolvency at the Essen district court at the beginning of January.
It is the third bankruptcy within three and a half years.
The deadline for submitting binding purchase offers expired last weekend.
Denkhaus had recently announced that it wanted to complete the sale in April.
He must prepare a report by the end of March, which must show that the reasons for filing for insolvency are met and that the costs of the procedure are covered.
If the reasons are given, the responsible local court can open insolvency proceedings.
With the opening, creditors can register their claims against Galeria Karstadt Kaufhof.
Galeria boss Olivier van Bossche and the provisional insolvency administrator Denkhaus want to keep the company intact.
According to them, about 60 branches are operating profitably.
The number of branches has been reduced by almost half to just over 90 since 2020 as a result of the insolvency proceedings already underway. How many locations will continue to exist and how many jobs may be lost is still unclear.
The department store chain currently has 92 branches and, according to its own information, employs around 12,800 people.
dpa