13 May 2020
The Weekly

Court-appointed administrator Frank Kebekus and the chief representative Arndt Geiwitz, plan to close up to 80 of the more than 170 department stores. In the remaining stores, up to 10% of jobs are to be cut. In addition, thousands of jobs are to be cut at Galeria’s Essen headquarters, where 1,600 people currently work. The headquarters of Karstadt-Sport, with 60 employees, also in Essen, will be eliminated without replacement. Suppliers to the department store chain have also been hit. Handbag manufacturer Picard, with 2,000 employees worldwide, announced job cuts last week. The family concern sells 30% of its bags through the German department store chain. Picard applied for insolvency protection at the Offenbach district court at the beginning of last week.