Department stores Galeria Kaufhof to close almost half of its stores

So far, it has not been made public, which stores will be closing. According to the first draft of a redevelopment plan, personnel in the remaining 90 stores is to be reduced by up to 10 per cent. The retailer currently employs 28,000 people. The company is in talks with landlords. So the number of possible closures could still be reduced.

At the beginning of last week, the management of the retail group had informed its employees in a two-page letter that due to the Corona crisis "unfortunately, there will also have to be site closures and corresponding job cuts". Information on the number of threatened stores or endangered jobs was missing in the letter.

The retailer has been in a protective shielding procedure since the beginning of April. The reorganisation is to be carried out by the company itself. Creditors and employees are to approve the plans by June. Meanwhile, the company is working under high pressure to ensure liquidity after the reopening of all houses.

This text was originally published in German and machine-translated into English.