German department store chain “Galeria Karstadt Kaufhof GmbH” plans to close 52 of the remaining 129 stores across the country, putting around 5,000 jobs at risk. The company’s staff delegation announced the news on Monday.
Two years ago, the retailer shut down 40 stores, making around 5,000 staff redundant, after filing for insolvency protection as a result of the pandemic.
Now the chain has resorted to state aid for the second time, amid worsening customer numbers as a result of inflation. It is not yet known which stores will be affected.
The retailer currently employs around 17,400 people.
