Insolvency proceedings ordered for Galeria department store chain

Dusseldorf. The Düsseldorf District Court has ordered preliminary insolvency proceedings for the Galeria department store chain. This emerges from a message from the court on the insolvency notices.de portal.

The lawyer Frank Kebekus was appointed as the provisional insolvency administrator. According to the court order (case number: 502 IN 258/26), he is now authorized to collect bank balances and other claims from Galeria and to accept incoming funds. As an administrator, Kebekus already accompanied the insolvency proceedings for the group in 2020 and 2022.

Galeria S.à r.l. & Co. KG applied for the opening of insolvency proceedings at the Düsseldorf District Court on Friday. This is the company's fourth bankruptcy filing within six years.

It remains to be seen whether and which locations will have to close. Business operations in the 83 branches should continue for the time being. The approximately 12,000 employees now have to fear for their jobs.

It is unclear whether they will receive bankruptcy money. The Essen district court has not yet lifted plan monitoring for Galeria after the last insolvency proceedings.

In June, a spokesman for the Federal Employment Agency said: “If a company is still under plan monitoring, it can be assumed with high probability that insolvency money cannot be paid again.” The insolvency of the original insolvency case should no longer continue. However, each test must consider the specific situation individually.

A good two and a half years ago, the company, then still called Galeria Karstadt Kaufhof, filed for bankruptcy for the last time. This was preceded by the difficulties of the then parent company Signa.