Another insolvency: Expert sees future for Galeria - with fewer locations
If the department store chain Galeria is to have a future, a lot needs to change, says Heilbronn trade expert Kortum. Others are skeptical about whether the company will survive the latest crisis.
Galeria, a German department store chain, has filed for insolvency for the fourth time in six years. According to trade experts, a complete closure is possible but not inevitable, and a continuation with fewer locations could be a solution. Galeria currently operates 83 stores and employs around 12,000 people. Experts cite weaknesses in the business model, including large and unattractive sales areas, high costs, and a weak product range, as reasons for the insolvency.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
