62 Kaufhof stores will be closed

Heute writes that at least 62 Kaufhof stores will be closed. This means that 6.000 full-time jobs will be affected.

It is not yet clear which branches are affected. Originally there was even talk that 80 of the 170 Kaufhof department stores would be closed.

Galeria Karstadt Kaufhof is part of the Signa Group of Tyrolean investor René Benko. Benko is said to have kept the company afloat with 140 million as rents have been suspended. Negotiations were also held with banks for loans.

However, no agreement was reached and a protective shield procedure was initiated at the beginning of April.

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