As of: April 8, 2024, 4:53 p.m
By: Andreas Höß
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Insolvency administrator Stefan Denkhaus is at the headquarters of the Galeria Karstadt Kaufhof department store group. On Wednesday he apparently wants to announce a buyer for the ailing chain. © Rolf Vennenbernd/dpa
The buyer of the insolvent department store chain Galeria Karstadt Kaufhof will probably be announced in the middle of the week. According to reports, a former owner of Kaufhof could win the race.
Munich – The department store chain Galeria Karstadt Kaufhof wants to present a buyer on Wednesday. Insolvency administrator Ralf Denkhaus recently spoke of two remaining bidders with whom negotiations are ongoing. “Our goal is to certify in the next week,” he said last Tuesday.
Is the former Kaufhof owner now buying the insolvent department store chain Galeria Karstadt Kaufhof?
According to media reports, one of them is the US businessman Richard Baker and his Canadian retail chain Hudson's Bay Company (HBC). He was already the owner of Kaufhof and had sold the company to René Benko's Signa Group, whose bankruptcy had dragged Galeria Karstadt Kaufhof into the abyss. However, Denkhaus did not want to confirm who exactly the interested parties were.
However, it is relatively clear that buyers will not pay huge sums for the ailing chain and will not take over all of the branches. “Some people want to receive a few more, others a few less,” said company sources. How many Galeria houses would ultimately survive would depend not least on where rents could be reduced to lower levels. There will also be a vote by creditors on the company's plans on Monday evening.