Galeria faces a fourth insolvency after years of decline

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  Galeria, the department-store operator formerly known through Karstadt and Kaufhof, is facing its fourth insolvency.

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  The company’s crisis has followed decades of gradual decline and business failures.

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  Only the Freiburg store remains company-owned, and it is held in a separate company.

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  Galeria has about 12,000 employees, compared with more than 160,000 at Karstadt and Kaufhof combined at their peak.

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  Manufacturers’ ownership reservations mean suppliers own more than half of the goods in the stores.

Who

Galeria, the department-store operator formerly known through Karstadt and Kaufhof.

What

The company is facing its fourth insolvency.

When

Not stated.

Where

Germany; the article is datelined Düsseldorf and refers to Galeria stores.

Why

The article describes decades of decline and business failures. It says the crisis has advanced so far that suppliers own more than half of the merchandise.

This story does not have two clearly opposing sides.