Future of the Galeria department stores in Berlin: Fight for Ku'damm!

Future of the Galeria department stores in Berlin: Fight for Ku'damm!

After the bankruptcy registration of the Signa Group in November last year, the future of the Galeria department stores in Berlin is very endangered. The branch on Alexanderplatz, which has now been sold to Commerzbank subsidiary Commerz Real, is particularly affected, which gives some hope of receiving the company. Nevertheless, the situation remains tense because several locations have already been closed in November and employees have to fear their jobs. In the middle of these uncertainties is the department store on Kurfürstendamm in Charlottenburg, where large plans by Signa boss René Benko were to be realized, including the construction of high-rise buildings.

With the issuance of a right of first refusal, the state of Berlin could impose itself as a potential buyer if the valuable property of the department store was to be sold, such as mein-berlin.net reported. The district court of Charlottenburg announced the opening of a main insolvency proceedings for the project company on October 25, which indicates that a decision on the sale is soon imminent. The hope of building new apartments could be a bright spot, since Berlin suffers greatly from a lack of housing. However, the question remains whether and to what extent the city can get involved, especially in view of the current austerity measures.

Future of the Galeria department stores remains uncertain

Developments related to the Galeria department stores leave many questions open. Whether the department store on the Kurfürstendamm is preserved or whether the plans for high -rise buildings that were originally sought by Signa are still feasible is in the stars. The uncertainty about the future of the department store and the entire Galeria branches keeps the Berliner in suspense. It will be crucial how the Berlin Senate reacts to these developments and whether new ways of creating living space can actually be followed. Further information on the Galeria department stores can be found at berlin-live.de .

Berlin Live