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Iconic Berlin department store KaDeWe said Monday it had filed for insolvency, as rising rental prices in Germany left it struggling to stay afloat.Its iconic status has seen it become the subject of a television series in Germany, which dramatised the lives of employees at the up-market department store.
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Store is part owned by Austria’s Signa Group, which is also co-owner of Brown Thomas and Arnotts in Ireland
German department store chain KaDeWe is seeking protection from creditors. The retailer is suffering from excessive rents.
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
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