Germany: KaDeWe department store group files for bankruptcy thestreetjournal.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestreetjournal.org Daily Mail and Mail on Sunday newspapers.
The owner of iconic Berlin department store KaDeWe has filed for bankruptcy, citing drastically increase renting costs. But analysts remain optimistic about the store's future.
The owner of iconic Berlin department store KaDeWe has filed for bankruptcy, citing drastically increase renting costs. But analysts remain optimistic about the store's future.
The owner of several of Germany's most iconic high-end department stores, including the KaDeWe in Berlin, the Oberpollinger in Munich and the Alsterhaus in Hamburg, has filed for bankruptcy. The KaDeWe Group told dpa on Monday that the company's stores will remain open. The group applied for restructuring under self-administration, a type of bankruptcy filing more typical for companies with good prospects of continuing business operations. The retail company contended that the rents at the three