People enter and leave a branch of the department store Galeria Karstadt Kaufhof in Berlin, Germany, Tuesday, Jan. 9, 2024. Germany's last remaining major department store chain has filed for insolvency protection, its third such application in less than four years, after its owner ran into difficulties. Galeria Karstadt Kaufhof, which currently runs 92 stores and employs more than 15,000 people, said Tuesday it filed for insolvency at a court in Essen.Photo by Joerg Carstensen/THE ASSOCIATED PRESS

Germany's last major department store chain files for insolvency protection for the third time

· National Post

BERLIN (AP) — Germany’s last remaining major department store chain filed for insolvency protection on Tuesday, its third filing in less than four years, after its owner ran into difficulties.

Galeria Karstadt Kaufhof, which currently runs 92 stores and employs more than 15,000 people, said it filed for insolvency at a court in Essen, German news agency dpa reported. The company is seeking a new owner and talks with potential investors are already underway.