The department store group Galeria Karstadt Kaufhof is still waiting for government aid. The “Textile Industry” reports that the necessary talks did not lead to any results even at the weekend. The trade magazine quotes from an internal paper, which states that the company “is currently in discussions with the banks, among other things, to create the extensive prerequisites for the use of state aid funds.” However, this process is “currently still very bureaucratic and time-consuming. It costs valuable time. ”
The content of the paper was confirmed to the German press agency from the group’s environment. The group did not want to comment on request.
In order to save the department store company with its 28,000 employees and around 170 locations, the owner Signa is apparently also willing to provide “significant financial support”. The corporation had to close its branches due to the spreading coronavirus pandemic. “We lose more than 80 million euros in sales every week while significant costs continue,” says the internal paper. Most of the branch employees are now on short-time work.
Galeria Karstadt-Kaufhof: Online trade continues
The business in the department stores is largely dormant, but not complete. Around 50 of the company’s food departments are still open. Externally rented food and drugstore spaces that are separately accessible are still open. The departments that send goods for the online shop from the branches also work. (dpa)
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