After Galeria, the KaDeWe group with department stores in Berlin, Hamburg and Munich is now facing bankruptcy, as “Capital” reported. picture alliance/Britta Pedersen
It was recently announced that the Galeria department store chain is facing bankruptcy. Now the luxury department store chain KaDeWe is also preparing to file for bankruptcy, as “Capital” reported.
The wave of bankruptcies in René Benko’s Signa Group began at the end of last year. The investor nevertheless assured the “Tagesspiegel” that the department stores were “safely positioned”.
Shops in Berlin, Hamburg and Munich are affected by the bankruptcy.
There is apparently no end to the chaos in René Benko’s Signa Group: After Galeria, the KaDeWe Group with department stores in Berlin, Hamburg and Munich is now facing bankruptcy. The bankruptcy filing is said to be already in progress, Capital reported. German taxpayers could lose millions in money as a result.
The wave of bankruptcies in investor René Benko’s Signa Group began last November. Nevertheless, KaDeWe boss Michael Peterseim tried to remain calm. He emphasized to the “Tagesspiegel”, that the group, which includes the luxury department store in Berlin’s KaDeWe, the Alsterhaus in Hamburg and the Oberpollinger in Munich, is “safely positioned”. The turbulence had “no impact on us,” it said. After all, Signa was only “a minority shareholder” – which suggested that the Austrians were only an insignificant small shareholder.
After Galeria, the department store chain KaDeWe is also facing bankruptcy
Even after the bankruptcy of Benko’s Galeria Karstadt Kaufhof department store chain almost three weeks ago, the KaDeWe Group seemed unimpressed. But the chaos that has been going on for months in Benko’s real estate and trading group is now also having an impact on business in the luxury department stores. According to information from Capital, the KaDeWe Group is preparing its own insolvency application, which will be submitted at the beginning of next week. The bankruptcy should therefore be filed in Berlin, where the group operates most of its business.
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Exorbitant rents have inflated the value of René Benko’s real estate empire – KaDeWe and Galeria-Karstadt-Kaufhof are suffering as a result
To date, the insolvency proceedings of numerous companies from the Signa Group’s real estate sector have already been brought together at the Charlottenburg District Court under the direction of insolvency administrator Torsten Martini from the Görg law firm. These also include companies that rent real estate to the KaDeWe Group.
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