Like JJB Sports and other British retail chains, the receivers of Karstadt have obtained a cut in the lease rates of its remaining 26 sports stores and 86 department stores. A reduction of €150 million was agreed to by the Highstreet Consortium controlled by Goldman Sachs, Deutsche Bank, Pirelli, Generali and Borletti, which has taken over most of Karstadt’s real estate. The employees of the group have agreed to a similar cut in terms of extra holiday and Christmas wages. These agreements will make it easier to sell the group and pay off its creditors. Six candidates are said to be still in the running for the takeover.