Galeria Karstadt Kaufhof worries about continued lockdown effects
What: German retailer’s director Miguel Mulenbach is expecting major discounts in fashion.
Why is it important: German department store may need more government help to survive.
He points out that without the help of Signa, the owner of the group, "there would not be any department stores for a long time — and our 20,000 or so jobs would have disappeared".
Galeria Karstadt Kaufhof received a loan of EUR 460 million from the German government earlier this year.
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