German department store chain Galeria has placed 33 branches under profitability review and warned they could close as it pushes to renegotiate lease terms and reduce floor space with landlords.
The affected locations span major cities and regional centres, including multiple Berlin sites — Alexanderplatz, Hermannplatz, Kurfürstendamm and Spandau — as well as branches in Hamburg, Munich, Cologne, Münster and Magdeburg. Five stores in Baden-Württemberg — Freiburg, Heilbronn, Mannheim, Offenburg and Singen — are also on the list.
The retailer secured up to 160 million euros in new credit from U.S. investment firm Gordon Brothers. Galeria filed for insolvency in early 2024, its third such filing within four years, as it struggles to stabilise operations across its remaining network.