What: Galeria Karstadt Kaufhof has started a structured investment process to find a new owner, with the support of provisional insolvency administrator Stefan Denkhaus and the provisional creditors' committee.

Why it is important: This move is crucial for the future of GKK, marking a significant step towards securing a sustainable future for the department store chain amidst its third insolvency in just over three years. By attracting investors with an operational interest in Galeria, the company aims to ensure the continuity and long-term planning of its department stores, which is vital for employees, customers, and the retail landscape.

With the assistance of experienced investment banks, Galeria Karstadt Kaufhof has launched an investment process to find a new owner committed to the operational success and sustainability of the department store group. Interested parties are invited to submit their expressions of interest and business plans by February 11, followed by non-binding offers by March 8. This initiative comes after GKK filed for insolvency in early January, seeking to maintain business operations while transitioning to new ownership. The search for a buyer is already underway, with multiple potential investors reportedly in discussions, highlighting the proactive efforts to preserve and revitalize one of the key players in the retail sector.

Galeria Karstadt Kaufhof begins investment process