Galeria threatens to close 33 department stores

The future looks uncertain for 33 of the 80 locations operated by the German department store chain Galeria. If the rent cannot be reduced, the stores may close their doors for good.

In talks with landlords

Galeria is reviewing the profitability of 33 locations. The retailer wants to negotiate with landlords regarding lease terms and adjustments to the store footprint. If no viable solution can be found, the survival of the affected stores will be at risk. For some locations, discussions are already underway; for others, they will begin now, reports the German news agency dpa. The list includes four stores in Berlin and three in Cologne, as well as stores in Hamburg, Koblenz, and Munich.