Following various former Signa subsidiaries, the long-standing department store KaDeWe in Berlin has also filed for insolvency. The KaDeWe Group also includes the luxury department stores Alsterhaus in Hamburg and Oberpollinger in Munich, which would, therefore, also be affected by the proceedings. The company announced that the stores would, however, continue to operate.
The Thai Central Group owns 50.1 percent of the shares in the luxury department store group.
Earlier this month, the department store group Galeria Karstadt Kaufhof, which also belongs to Signa, filed for insolvency at the Essen District Court – the third attempt to restructure the group in less than four years.
