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Galeria Karstadt Kaufhof Insolvency: German retail giant Galeria insolvent in wake of Signa collapse, ET RealEstate

Galeria Karstadt Kaufhof Insolvency: Galeria, Germanys most prominent retailer, said it was seeking a new owner after being hit by the problems at Signa, the insolvent Austrian-based property empire that has become the biggest casualty so far in Europes real-estate crisis.
Galeria Karstadt Kaufhof Rene Benko Stefan Denkhaus Signa Group German Department New York

Germany's Galeria could be next insolvency in Signa empire

German department store giant Galeria could file for insolvency again as early as this week, two people familiar with the matter said on Monday, joining the list of companies affected by the collapse of Signa founder Rene Benko's real estate empire. The insolvency application could come as soon as Tuesday or Wednesday, according to one source. A spokesperson for Galeria, which has already survived two insolvency proceedings, declined to comment.
Matthias Inverardi Jan Harvey Rene Benko Miranda Murray German Department Signa Holding
Source: yahoo.com

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