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 said to have filed for bankruptcy, as the “SZ” reported.
The wave of bankruptcies in René Benko’s Signa Group began at the end of last year.
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. According to a report in the “Süddeutsche Zeitung”, the company has filed for bankruptcy.
The company behind it, the KaDeWe Group, belongs around half to the Signa empire of the Austrian entrepreneur René Benko. The Thai Central Group holds the other 50 percent.
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René Benko’s Signa empire went bankrupt in 2023
Signa is one of the largest trading and real estate groups in Europe. In addition to KaDeWe, the retail business includes the Sportscheck chain and the Galeria Karstadt Kaufhof department stores. The real estate division includes numerous luxury properties in top locations. Among them: the Chrysler Building and the Golden Quarter in Vienna.
Signa Holding went bankrupt at the end of 2023. Later, other subsidiaries such as the project company behind the Hamburg Elbtower also filed for insolvency.
Now, according to media reports, there is also the KaDeWe Group. In addition to the luxury department store in Berlin, it also includes the Alsterhaus in Hamburg and Oberpollinger in Munich.
ls / jpog