{
  "id": 14381300,
  "title": "Retail: Galeria plummets, changing owners got \"very rich\": How investors have been fleecing department stores for years",
  "url": "https://urgent.news/2026/10/14/einzelhandel-galeria-sturzt-ab-wechselnde-eigner-wurden-sehr-reich",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-14T05:19:00.000Z",
  "source": {
    "name": "Handelsblatt",
    "slug": "handelsblatt",
    "url": "https://www.handelsblatt.com/unternehmen/handel-konsumgueter/galeria-so-wurden-die-marken-karstadt-und-kaufhof-systematisch-zerstoert/100261482.html"
  },
  "original_language": "de",
  "account": "Galeria, formerly known as Karstadt and Kaufhof, is struggling to recover from insolvency. Despite a strong fourth quarter, it is unlikely to save the company. The business has significant issues, including most of its inventory not being owned by the company due to supplier liens and a $million-dollar loan to Gordon Brothers. As a result, the insolvency administrator will only receive 9% of the revenue from sales. The company now has only 12,000 employees, down from a peak of over 160,000.",
  "summary": "The former success story of Karstadt and Kaufhof is now entering its fourth insolvency under the name Galeria, and it is also a story of entrepreneurial mistakes.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}