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Munich, Bavaria, Germany – Following its fourth insolvency, the future of Galeria department stores in Munich remains highly uncertain. The Rotkreuzplatz branch is confirmed to close by the end of January 2027, and even the flagship Marienplatz store, the most profitable in Germany, faces an expiring lease and potential redevelopment.
Rotkreuzplatz Store to Close in January 2027
The Galeria store at Rotkreuzplatz is scheduled to close its doors at the end of January 2027. This closure is attributed to the expiration of its lease agreement, with the landlord, OFB, planning a new development on the site. The new project will feature a mix of hotel, office, gastronomy, and residential spaces, with a reduced retail footprint. Discussions about a short-term lease extension reportedly took place but were ultimately superseded by the recent insolvency filing.
Marienplatz Flagship Store Faces Uncertain Future
The Galeria store at Marienplatz, recognized as the most profitable Galeria branch in Germany, is also facing significant challenges. Its lease for the main building at Kaufingerstraße 1 is set to expire at the end of 2027. The current lease arrangement involves Metro Group subleasing to Galeria, but Metro is withdrawing after its contract concludes. This necessitates Galeria negotiating a new lease directly, a position significantly weakened by the recent insolvency.
The Doblinger Group, a major property owner involved with the Marienplatz location, is reportedly already working on alternative plans for the building. These plans include a substantial renovation, a new facade, and a potential change in usage. This could involve retaining retail space on the lower floors while converting upper levels into offices, a model seen in other former department store locations in Munich.
No Official Statements on Marienplatz Future
As of Monday, no official statements regarding the future of Galeria at Marienplatz were available. The store’s manager declined to comment, redirecting inquiries to Galeria’s press office in Düsseldorf, which had not responded to requests for information on the Munich locations. The Doblinger Group also did not respond to inquiries from the Süddeutsche Zeitung. A redevelopment of the Marienplatz store would involve a significant investment in the high triple-digit millions and extensive public planning.
Other Munich Locations: Münchner Freiheit and OEZ
Munich initially had nine Galeria stores at the beginning of the decade. After three insolvencies since 2020, only four remained: Marienplatz, Rotkreuzplatz, Münchner Freiheit, and Olympia-Einkaufszentrum (OEZ). With the Rotkreuzplatz closure confirmed, the fate of the remaining three hinges on Galeria’s ability to survive this latest insolvency.
At the Olympia-Einkaufszentrum (OEZ), where a Galeria store (formerly Kaufhof and Karstadt) has been operating since 2020, the center manager for ECE, Torsten Keller, stated that alternative concepts have been developed in anticipation of a potential Galeria withdrawal. While not disclosing details, Keller confirmed high demand for retail space at OEZ.
The Galeria store at Münchner Freiheit has a different landlord structure, with the building owned by Sedlmayr Grund und Immobilien AG. A future without Galeria at this location would also entail considerable planning and costs. Sedlmayr had not issued a statement by Monday afternoon.
The repeated insolvencies have significantly complicated Galeria’s negotiating position with landlords across all its remaining locations, raising questions about the long-term viability of the department store chain in Munich.
