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Galeria Files for Insolvency Again: Dismay in Hamburg
Hamburg, October 2 – The department store group Galeria filed for insolvency again on Friday at the Düsseldorf District Court. This marks the fourth insolvency filing for the company within the past six years. In Hamburg, approximately 400 employees work in the three remaining branches located on Mönckebergstraße, in Eimsbüttel, and at the Alstertal shopping center.
Works Council Expresses Disbelief
The works council has expressed profound disbelief at the latest development. In a statement, they highlighted that in recent years, every effort had been made to ensure Galeria’s continued operation. Heike Lattekamp, spokesperson for the ver.di trade union, described the renewed insolvency as a “slap in the face” for the employees. She is now demanding a swift clarification regarding the future prospects for the workforce.
Significant Drop in Sales Cited as Reason
The primary reason cited for the insolvency is a massive decline in sales. In recent months, the department stores reportedly saw a 15 percent drop in revenue compared to the same period last year.
12,000 Employees Nationwide
Across Germany, the department store chain employs a total of 12,000 people in 83 branches. The company is reported to have only around ten million euros available, while double that amount would be necessary to maintain operations.
On Thursday, the US investor Gordon Brothers declined to provide further financial injections. In June, they had already transferred 160 million euros to the company.
Uncertainty for Hamburg-Eimsbüttel Branch
The company has yet to confirm whether any locations will face closure. However, branches in Wismar, Braunschweig, Oldenburg, and Hamburg-Eimsbüttel are considered at risk. The future of the Galeria department store on Osterstraße in Hamburg-Eimsbüttel is currently under review as it appears on a list of potentially affected stores.
Four Northern Branches Under Scrutiny
The struggling department store group is reviewing the future of several branches, including those in Wismar, Braunschweig, Oldenburg, and Hamburg-Eimsbüttel. This development is part of a broader crisis affecting Germany’s last major department store chain.
The news was broadcast on NDR 90,3 | NDR 90,3 Aktuell | on October 2, 2026, at 4:00 PM.
Source: https://www.ndr.de/nachrichten/hamburg/galeria-wieder-insolvent-fassungslosigkeit-in-hamburg,karstadt-262.html
