What’s happening?
Galeria Karstadt Kaufhof, Germany’s largest department store chain, has announced plans to close 16 of its stores as part of ongoing efforts to restructure and save the beleaguered company. The closures will affect approximately 2,000 employees and are expected to take place over the coming months.
Which stores are affected?
- Karstadt Kaufhof Bamberg
- Galeria Kaufhof Berlin Hermannplatz
- Galeria Kaufhof Berlin Siemensstadt
- Karstadt Bingen
- Karstadt Buchholz
- Galeria Kaufhof Cottbus
- Karstadt Fulda
- Galeria Kaufhof Gelsenkirchen
- Galeria Kaufhof Gießen
- Karstadt Kettwig
- Karstadt Ludwigshafen
- Karstadt Montabaur
- Karstadt Mülheim an der Ruhr
- Galeria Kaufhof Neunkirchen
- Galeria Kaufhof Offenbach
- Karstadt Trier
Why are the stores closing?
The closures are part of a broader restructuring plan that aims to reduce costs and improve profitability. Galeria Karstadt Kaufhof has been struggling financially in recent years due to factors such as declining foot traffic, rising online competition, and the impact of the COVID-19 pandemic.
What’s next for Galeria Karstadt Kaufhof?
The company is expected to continue its restructuring efforts and may announce further store closures or other measures in the coming months. The closures will have a significant impact on employees and shoppers in the affected communities.
Kind regards
E. Thompson
