Sunday, August 17, 2014

After change of ownership: Karstadt is facing severe cuts – ABC Online

After change of ownership: Karstadt is facing severe cuts – ABC Online

Sunday, 17.08.2014, 10:27
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In the troubled department store chain Karstadt now takes over the Austrians René Benko from former hopefuls Nicolas Berggruen. What to expect the employee is still unclear. Cities hope for the right concept of the new owner.

The new Karstadt owner Rene Benko to take control at Karstadt in early next week and get back to the rehabilitation of the ailing department store chain start. Benko am counting more on supervisory board chairman Stephan Fanderl, the surgery will play a central role, told the “Bild am Sonntag”, citing insiders. The Austrian real estate entrepreneur will invest in the company, but plan to within the next twelve months, reductions in all areas.

Institutional Strategy for the approximately 17,000 employees and 83 stores

With the acquisition but were also speculation about plans for a merger between Kaufhof and Karstadt new food. Benko had been several attempts in the past to a takeover of the Metro subsidiary Kaufhof, Karstadt and Kaufhof to lead in a chain. One such business had always rejected in the past, the Metro-owner.

The union Verdi asks Benko investments and a sustainable future concept for the approximately 17,000 employees and 83 stores of the Group, for years with losses and falling revenues fights. This coming Thursday will the Supervisory Board according to current plans, advise on a restructuring plan.

Cities want to keep their Karstadt stores

Given the importance of the department stores for the inner cities hopes of the German Association of Cities on a Wise future concept for Karstadt. “Cities need attractive centers and have a great interest in it to the retail site goes well”, said the chief executive of the Association of Cities, Stephan Articus, with on demand news agency dpa. “For department stores contribute to vibrant city centers, attract buyers and make use of the retail in their environment,” says Articus on. They are also major employers. In the past, have been found:. “Where stores have to close, often also reduces the shops in the vicinity and can be a quality of life of the population lost”

the medium term, 15 to 20 houses to be closed, writes the “Süddeutsche Zeitung”, citing the environment Benkos. Prior to this happening, the Austrians but House wants to check for house on profitability. A spokesman for Benko’s Signa Holding did not comment on the report dpa request. The “SZ” will -information According to Benko be valid for ten years or more and invest in the company. He plans to bring brand dealers as additional tenants in most Karstadt stores and remodel to major shopping centers.

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had the German-Americans Berggruen Karstadt 2010, for the symbolic price of one euro the insolvency taken. Now he sold the chain for a Euro to Benko. The Federal Cartel Office must approve the deal yet. In the “Image” (Saturday) admitted Berggruen error in the management of Karstadt. At the same time, however, he rejected accusations of having enriched themselves at the company. “The fact is: Karstadt for us was not good business, not only in financial terms but also with regard to my reputation in Germany,” he said. With its complete exit he wanted to make way for a new beginning. “We all know that things can not go on,” he said

Karstadt to get out of the media

The CEO of Signa Retail GmbH, tungsten wedge had announced on Friday.: The main objective is it now that einkehre in the department store group rest and quickly advise the next steps of a viable recovery strategy would be adopted and implemented. Karstadt had to “get out of the media and the grueling public discussion,” said wedge

Supervisory Board Chairman Stephan Fanderl had a tough restructuring program announced a month ago. Everything must be made at Karstadt to the test. The company is doing “legitimate concerns about the profitability” of more than 20 stores, Fanderl had the “Frankfurter Allgemeine Zeitung” told. But concrete closure decisions give it yet

Video:. Who is the new Karstadt owner?


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