Warenhäuser: Galeria startet Investorensuche

Düsseldorf - The search for potential buyers for the insolvent Galeria retail chain has officially begun, according to the Deutsche Presse-Agentur. The inquiry is being overseen by the management consultancy firm Roland Berger. Galeria recently filed for bankruptcy protection for the second time. The business operations in its 83 stores are currently ongoing.

It remains to be seen which stores, if any, will be closed. The current interim insolvency administrator, Frank Kebekus, intends to conduct a thorough review of the entire store network to assess each Galeria outlet's economic viability. Employees were informed of this on Friday during a company-wide meeting. It is understood that Kebekus is in negotiations with the US investment firm Gordon Brothers regarding the financing of the company's operational activities.

Once an agreement is reached, it is expected that the business operations and supply chain will become more stable, it was reported. Gordon Brothers previously provided the company with a loan of up to 160 million euros in June, secured by Galeria's inventory. In the crucial Christmas season, it is essential for the retail chain to use the revenues to finance new orders.