Renovators: - thirds of the Karstadt-Kaufhof branches in front Of | business

The group expects by the end of 2022, with a loss of turnover of around 1.4 billion euros due to the Corona-crisis. Therefore, the hard cuts are planned. In the

Renovators: - thirds of the Karstadt-Kaufhof branches in front Of | business

The group expects by the end of 2022, with a loss of turnover of around 1.4 billion euros due to the Corona-crisis. Therefore, the hard cuts are planned. In the case of more than a dozen houses were standing more are on the Brink.

Düsseldorf (dpa) - a Good third of the Galeria-Karstadt - Kaufhof-Department stores is not to save, according to the renovators to.

"of the total Of 172 were houses could make at the end, in the ideal case, perhaps, almost two-thirds," said the provisional administrator, the Department store chain Frank Kebekus of the "economic week". This would mean the closure of at least 58 houses.

"We have made clear to all Concerned that 80 houses "stand in the fire"" said Kebekus. But for more than a dozen of these branches is still hope. "If these sites are still concessions from landlords and other Stakeholders, it can go there, certainly," said Kebekus. Other branches will not be save even by the concessions of the landlords and of the workers. "There are houses which are not profitable to operate, even if the company would have to pay a Cent of rent."

The Corona-crisis, the Department store chain brought in an extremely difficult Situation. "We expect the billion revenue loss this year and did not also expect that the customer will buy in the coming year, as it had been before Corona. That is, until the end of 2022, the sales could increase losses even, to a total of around 1.4 billion euros," said the General Manager Arndt Geiwitz. The group could not survive, therefore, only by hard cuts.

by the end of 2022 to achieve the loss on the building as a group according to the plans of the renovators again for a profit. With the landlords to negotiate already about Mietnachlässe. Also Karstadt-Kaufhof-owner René Benko is not to be spared. The branches of its real estate group Signa be affected by closures, however, "certainly below average, because Signa has tended to be the better objects, i.e. those that pay for themselves," said Kebekus. However, concessions from Signa would be expected.

A re-sale of the warehouse group is on the other hand, the restructuring specialist, and currently, there is no Alternative. "Currently, there is no one who wants to take over the company. We also expect that anyone still logs on to the interest," said Kebekus. Benko stay in the current stage, "the only one who has signaled a willingness to put a lot of money in the rehabilitation of Karstadt-Kaufhof".

by the end of June should be fixed according to the plans of Geiwitz and Kebekus in the Detail of who is making which contributions to the restructuring and in connection with a bankruptcy plan that will create the various groups of Creditors vote in July.

"If the insolvency is rejected by the plan, then, probably, your honor, as at Schlecker," said Geiwitz. He is currently presume, however, that Kaufhof and Karstadt remain in place. "Despite all the problems the group is saved, if not necessarily in its present Form," he said.

report of the "Wirtschaftswoche"

Updated Date: 22 May 2020, 20:33

You need to login to comment.

Please register or login.

RELATED NEWS