Saturday, January 24, 2015

Karstadt-owners share Possession – Frankfurter Rundschau

Karstadt-owners share Possession – Frankfurter Rundschau

January 24, 2015

Karstadt will change in the future a lot. Photo: picture alliance / dpa

Enigmatic Deal: Karstadt-owners Benko and stone have divided the property. The Nobel homes will remain at Benko, Mason retires as far as possible. It is speculated that Benko himself will give a freer hand in the renovation of the Group with the transaction.

The two Karstadt owner René Benko and Beny Steinmetz have redistributed the common possession. Steinmetz draws largely from the Group. Him in the future include only those properties from 20 of the 80 classic department stores. Benko now owns the three Nobel Houses – KaDeWe (Berlin), Upper Pollinger (Munich), Alsterhaus (Hamburg). In addition, the department store locations in Stuttgart and Berlin’s Kurfürstendamm.

For the entire operations – even in the sports stores – Benko is also solely responsible. For the 20 properties that belong Steinmetz alone should have completed Benko media reports long-term leases. The other sites of the standard branches are mainly owned by banks and insurance companies.

On Friday, industry experts puzzled about the background of the deal. Is considered possible that Benko himself will give a freer hand in the very problematic redevelopment of the Group with the transaction. Brisant should the conditions in the lease of 20 houses to be. In the past, massively exaggerated conditions for real estate negotiated under different owners over again. There are circulating speculation that this could now be the case again. This would ultimately money flow out of the company that is struck violently

. Hard remediation

Benko want at Karstadt a hard remediation pull through staff cuts are imminent, jobs are on the brink, six sites will be closed. Among them is the house in Stuttgart, the Benko will obviously continue to rent at chain stores.


The department stores are out of the swing – she recorded in November and December sales fell by around six percent, Board Member Miguel waste stream had explained. The three premium houses recorded in the 2012/13 financial year (end of September) saw sales decline to 336.7 (previous year: 342.7) million euros. After all the houses worked profitably again – a profit of 4.7 million euros was in the books, in the previous year it was still a loss of 7.6 million euros. (With rtr)


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