What: Galeria has closed 19 stores as part of its restructuring efforts, with a further 22 stores expected to close by January next year.

Why it is important: Germany’s largest department store group is undergoing major changes after the completion of its insolvency proceedings, with plans to close around 129 of its branches.

Following the completion of the group’s insolvency proceedings, Galeria has closed 19 stores this month.

Despite the closures, one branch in Dusseldorf was able to come to an agreement with its landlord and will remain open.

At the end of the restructuring process, Galeria will have 88 branches remaining according to previous plans.

Galeria closed numerous department stores this month