Department stores: Galeria employees receive insolvency pay
Lawyers had doubts, insolvency administrator Frank Kebekus was optimistic. Now it's clear: Galeria can continue for now. However, the decision does not apply to all employees.
The German Federal Employment Agency (BA) has approved insolvency payments for employees of the department store chain Galeria. The BA will pay salaries and wages for employees at 83 branches until the end of the year, affecting 9685 employees. A separate decision on 1600 employees from other business areas will be made later. The insolvency payments will be pre-financed through a bank to enable swift disbursement.
Galeria had filed for its fourth insolvency within six years last Friday, with Frank Kebekus appointed as provisional insolvency administrator.
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.
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- Retail: Galeria employees receive insolvency pay handelsblatt.com
