Einzelhandel: Miteigentümer Beetz kritisiert Galeria für Insolvenzantrag

Düsseldorf and Berlin - Miteigentümer of insolvent retailer Galeria, Bernd Beetz, has criticized the management of Tilo Hellenbock for the company's insolvency petition and is demanding a swift turnaround. Beetz told the "Bild" newspaper that he believes the insolvency was preventable and stressed that the shareholders took over Galeria in a difficult situation, investing much time, energy and their own capital to give the company a future.

He emphasized that the necessary transformation should have been implemented more consistently and quickly, insisting on strict inventory management, a clear assortment strategy and a much stronger customer focus. Beetz remained optimistic: "A department store can be successful today, but only if it stands out from the competition and is operated excellently operationally."

He stressed that personnel decisions should now be made based on which individual enjoys the greatest trust from creditors, employees, suppliers and potential investors: "It is not about individual people, but about ensuring the best possible leadership for the next phase." Galeria had recently refiled for insolvency proceedings before the Düsseldorf District Court.

This is now the fourth petition within six years for Galeria. The business operation in the 83 stores is to continue for now. Following previous insolvency proceedings, numerous stores have already been closed. Creditor claims have been waived to allow the retail chain a way out of the crisis. Nearly two and a half years ago, the company, then still named Galeria Karstadt Kaufhof, submitted the last petition.

The crisis had previously been caused by the state of the parent company Signa. Since summer 2024, Galeria has been owned by US investment firm NRDC and a venture capital firm belonging to Beetz. The names Kaufhof and Karstadt have vanished from the company name. Galeria moved its headquarters from Essen to Düsseldorf.