Galeria Karstadt Kaufhof wants to close around a third to half of its 131 branches. Our graphic shows whether the department store in your city is also affected.
At the end of October, Galeria Karstadt Kaufhof filed for bankruptcy for the second time since 2020. The company now wants to get rid of at least a third of its branches in order to finance the conversion of the others to the new Galeria 2.0 concept. We have compiled which locations are most likely to have to close, which have already closed and which will continue to exist.
Galeria will probably clean up double locations that were created by the merger of Karstadt and Kaufhof and are partly unprofitably close to each other. Nuremberg, Hamburg and Regensburg, for example, will probably lose locations. The same applies to Saarbrücken.
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The locations that Galeria wanted to close when it filed for bankruptcy two years ago, but which were then just saved, are also likely to shake. These include Dortmund, Potsdam and two locations in Nuremberg.
Under no circumstances will Galeria close its best stores in prime locations in major cities. Only eight houses fall into this category:
Galeria has converted some locations to the new Galeria 2.0 concept. These should also be quite safe because of the investments that have already flowed into them. These include the new “Weltstadthaus” in Frankfurt Hauptwache, the “regional magnet” in Kassel and the “local forum” in Kleve, each of which serves as a model for the future of galerias in large, medium-sized and small cities.
Almost 50 branches belong to Galeria owner Signa. The company should only close these if it comes up with better plans for their use.
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Buero.de has submitted a takeover bid for 47 branches. Buero.de boss Markus Schön told the RND that he wanted “to make an offer to all employees and not to close any of the 47 locations”.
Buero.de is interested in branches that would probably have no future without the takeover of the online retailer, but also in some that Galeria wants to keep. Among other things, Buero.de wants to continue the Erfurt, Bremen and Rosenheim locations with a similar concept as before, but the names Galeria, Karstadt and Kaufhof are to be dropped, reports the DPA. The negotiations are ongoing.
Even if Galeria is happy to give up some locations, the outcome of the negotiations is uncertain for others. Buero.de wants to take over the branch in Fulda, which Galeria has already upgraded to Galeria 2.0.
Buero.de has also expressed interest in the Karstadt headquarters in Wismar (Mecklenburg-West Pomerania). It was there that Rudolph Karstadt founded his “Karstadt cloth, manufacturing and confectionery shop” in 1881 with cheap fixed prices for cash. Today’s department store was built in 1907. It is also unclear whether Galeria will give up the historic building.
More on the subject: With a complete list – the offer is available! These 47 Galeria branches are on the verge of salvation
For some Galeria branches, the end was already certain before the current insolvency. According to reports from the Handelsblatt, this includes the locations in Halle and Hanover at the Marktkirche, where the leases expire at the end of January 2023. Berlin Wedding will close at the end of next year. In the Hamburg-Wandsbek branch, the landlord Union Investment is planning the conversion from June 2024, and the lease in Esslingen is also expiring. The owners of the Cologne Breite Straße and Frankfurt Zeil locations are planning new buildings without a gallery.
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