galeriakarstadtkaufhof
The new owners of bankrupt German department store chain Galeria Karstadt Kaufhof plan to keep more than 70 of the chain's 92 branches open, the bankruptcy administrator announced on Wednesday. The new proposed buyers of the company, meanwhile, expressed optimism about the department store chain's potential future and plans to reinvest. An agreement with a consortium made up of German businessman Bernd Beetz's BB Capital investment firm and US investors Jack Baker and Lucas Evans of NRDC Equity Partners to buy the company out of bankruptcy was announced on Tuesday. "We are pleased that our pla...
DPA Breaking News
The new owners of the bankrupt German department store chain Galeria Karstadt Kaufhof plan to keep more than 70 of the chain's 92 stores open, the bankruptcy administrator announced on Wednesday. A consortium made up of US private equity firm NRDC and German businessman Bernd Beetz have agreed to buy the troubled retail chain out of bankruptcy, in a deal first announced on Tuesday. Stefan Denkhaus, the attorney administering the company during bankruptcy proceedings, said the plans to keep at least 70 of the stores open was included in the investor agreement, which was notarized on Tuesday. Ho...
DPA Breaking News
A consortium led by the US private investment firm NRDC Equity Partners and German businessman Bernd Beetz plan to buy bankrupt German department store chain Galeria Karstadt Kaufhof, dpa learned from sources close to the negotiations. Representatives for Galeria's insolvency manager, Stefan Denkhaus, and the company itself both declined to comment on the deal, which was reported earlier by the Handelsblatt business daily. Denkhaus is said to have recently held final negotiations on the sale of the chain with two bidders. Handelsblatt reported Denkhaus informed creditors on Monday that NRDC an...
DPA Breaking News
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