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Insolvency: Galeria files for bankruptcy for the fourth time

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Insolvency: Galeria files for bankruptcy for the fourth time
German department store chain Galeria has applied for insolvency proceedings at the Düsseldorf District Court, following previous filings in 2020, 2022 and 2024. According to Logistik Heute’s report of 2 October, its 83 stores were expected to continue trading while the company sought to stabilise its position.

Around 12,000 employees face uncertainty, with potential closures and eligibility for insolvency payments currently unresolved. Earlier proceedings had already resulted in store closures and substantial creditor concessions.

The renewed filing followed reports of unpaid rent and a credit facility of up to €160 million from Gordon Brothers in June, linked to a three-year restructuring plan. In July, Galeria announced a review of 33 stores and negotiations with landlords. The case comes amid wider pressure on German retail, including weak consumer confidence and growing competition from online shopping.

Read the full article in Logistik Heute
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