Home » Because of Benko: Galeria Karstadt Kaufhof is preparing for its third bankruptcy

Because of Benko: Galeria Karstadt Kaufhof is preparing for its third bankruptcy

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Because of Benko: Galeria Karstadt Kaufhof is preparing for its third bankruptcy

Galeria CEO Olivier Van den Bossche. Getty Images / picture alliance, traffic_analyzer

When billionaire René Benko’s conglomerate began to collapse at the end of November, a small group of top managers at Theodor-Wolf-Straße 2 in Essen asked themselves: What will happen to us now? The management of the Galeria Karstadt Kaufhof (GKK) department store chain, which is also part of the Benko network of companies, resides in the mighty concrete building.

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Research by Business Insider shows that there may soon be an answer to this question. Accordingly, the department store chain is currently preparing for a third bankruptcy. Specifically, it is currently being examined whether GKK is even insolvent. In plain language: It is being investigated whether the department store chain still has enough resources and economic power to go bankrupt. The auditing firm KPMG is mandated by the Essen-based company.

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