The famous German department store KaDeWe filed for bankruptcy – Kommersant
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The famous Berlin department store KaDeWe has filed for bankruptcy. According to German mediathis happened last Friday, but the department store itself did not confirm the information.
German newspapers write that the filing of the application does not mean that KaDeWe is going to stop working. The head of the Berlin-Brandenburg trade union, Niels Busch-Petersen, said that the company is doing well, and if it comes to bankruptcy, it will only mean a desire to “get out of toxic contractual relations.”
The alleged bankruptcy of KaDeWe is related to collapse Austrian real estate holding Signa Holding, which owns 49.99% of the retailer’s shares. The remaining 50.01% is in the hands of the Thai conglomerate Central Retail. In addition to the Berlin department store of the same name, the KaDeWe group includes two more famous old department stores – Hamburg’s Alsterhaus and Munich’s Oberpollinger.
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