4 April 2020
The Weekly

Galeria Karstadt Kaufhof is seeking protection from creditors to stay afloat, after nationwide store closures to help to contain the spread of the coronavirus. Galeria said that all its outlets have been closed since March 18, leading to about ‎€80mn ($87.5mn) of lost weekly revenue while the company continues to incur the bulk of the costs. Germany’s federal and state governments last month agreed to shut non-essential shops as part of sweeping rules to slow the spread of the virus. The company’s filing, which also covers sporting goods retailer Karstadt Sports, had been accepted by a court in the city of Essen.