Business · Companies · 12 hrs ago
Galeria begins search for new investors after filing for insolvency
Galeria has officially begun looking for one or more buyers after recently filing for insolvency again.
The German department-store chain is operating 83 stores for now, but it is not yet clear which will remain open.
Insolvency administrator Frank Kebekus plans to assess each store’s financial prospects before decisions are made.
The search is being overseen by Roland Berger, while Kebekus is also negotiating with US investment firm Gordon Brothers to fund day-to-day operations.
A retail expert estimates that upgrading store buildings and interiors could cost about one billion euros, with further spending needed for online sales.
Galeria employs 11,250 people, and its workers say it needs owners willing to invest for the long term.
The company’s next steps depend on finding a buyer, securing operating funds and deciding which stores are viable.
Galeria has officially begun seeking one or more buyers after recently filing for insolvency again.
The investor process is being supported by consultancy Roland Berger, according to reports citing people close to the company.
All 83 stores are continuing to operate for now, but it is not yet known which locations may close.
Provisional insolvency administrator Frank Kebekus plans to assess each store’s economic viability.
A retail expert estimates that modernising store buildings and interiors would require about €1 billion.
- Who
- Galeria is seeking one or more buyers. The investor process is being supported by Roland Berger.
- What
- The insolvent department-store chain has officially begun a search for investors.
- When
- The search was reported on October 16, 2026; Galeria had recently filed for insolvency again.
- Where
- Galeria’s 83 stores in Germany.
- Why
- The company is insolvent and needs investors; a retail expert estimates about €1 billion is needed for building technology and interiors.
This story does not have two clearly opposing sides.
NRDC and an investment company belonging to entrepreneur Bernd Beetz took over Galeria.
Gordon Brothers provided Galeria with credit financing of up to €160 million, secured by the company’s goods.
Galeria filed for insolvency again.
The search for one or more buyers was reported as officially underway.
- Stores
- 83
- Employees
- 11,250
- Estimated investment need for building technology and interiors
- About €1 billion
- Credit financing from Gordon Brothers
- Up to €160 million
- Investor-process adviser
- Roland Berger
4 sources
What people are saying
We need owners who are committed to our Galeria for the long term and on a stable basis.
Not only capital is needed, but also innovative cooperation, starting with the owner and extending to company management.
A new investor needs deep pockets, even if they take over only half the stores.