Future of the Galeria department stores in Berlin: hope or final end?

Future of the Galeria department stores in Berlin: hope or final end?

The turbulent future of the Galeria department stores in Berlin is again the focus of attention! After the bankruptcy of the Signa Group, which caused shock waves in November of last year, workers and long-term customers worry about the future of the popular shopping facilities. The situation on Alexanderplatz, where the branch was sold - is particularly explosive - as part of a rescue attempt that now arouses hope for the continuation of the company under new management, such as berlin-live.de describes.

uncertain decisions for the Ku’damm

The department store on Kurfürstendamm in Charlottenburg is in the heart of Berlin. Former Signa boss René Benko once had great plans for the site, which, among other things, provided for the construction of high-rise buildings. But the bankruptcy apparently shakes all future prospects. The Berlin Senate has now issued a right of first refusal for the property, which means that both private buyers and the state of Berlin have to be considered. This news has re-losed the discussion about the upcoming fate of the property, as mein-berlin.net

Immediately after the opening of the main bankruptcy proceedings on October 25 for the project company that has the property, all signs indicate an early sale. While the plans for the construction of new apartments on Ku’damm remain unsafe and questioned, the fate of the Galeria department stores will continue to ensure talking material throughout the city. Whether the city of Berlin can appear as a buyer of the property remains questionable in view of the current austerity measures. The uncertainty as to whether the department store is preserved or new living rooms are being created makes the Berlin population look forward to the upcoming developments.

Berlin Live