Galeria CEO Bernd Beetz wants only branches to remain that operate profitably locally. picture alliance/dpa | Fabian Strauch
The Galeria department store chain remains intact despite bankruptcy, thanks to CEO Bernd Beetz and an American partner. Beetz plans to continue operating around 70 of the 92 branches, although it remains unclear which branches will remain. The future of 16 Galeria properties owned by the insolvent Signa Group is particularly uncertain as they are affected by the insolvency of the Signa Development company.
It has been clear since last week: The Galeria department store chain will remain intact despite the third insolvency proceedings in a row. The Mannheim entrepreneur Bernd Beetz joins the company with an American partner. Breaking the chain is now off the table.
But it remains unclear which branches will be retained. Beetz has only announced that around 70 of the 92 houses should continue to work. Those branches whose buildings belonged to the failed Galeria owner are particularly at risk of fire. What will happen to them should be clear before Beetz takes over Galeria. “Welt” has a list of former Kaufhof properties that are affected by the insolvency of the Signa Development company. Galeria is still active in 16 of them.