Galeria Karstadt Kaufhof to shut stores
Germany's department store chain Galeria Karstadt Kaufhof will close 62 of its 172 stores. Karstadt Kaufhof announced in April it was seeking protection from creditors after its stores were force to close during the coronavirus lockdown. Now it is launching a restructuring plan aimed at saving the ailing firm, putting about 5,000 jobs at risk, out of 35,000 jobs.
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