Planned takeover of the insolvent department stores' chain: Disaster „inevitable for Galeria"

What Galeria and its employees finally needed after years of uncertainty and several insolvency applications was clarity, says Jannis Vassiliou, Chairman of the Bonn/Rhein-Sieg/Euskirchen Retail Association (EHV). And they should now have clarity: US investor Richard Baker and his investment company NRDC Equity Partners are said to have been awarded the contract for the insolvent department stores' chain together with former Dior boss Bernd Beetz. They would succeed the Austrian entrepreneur René Benko, the head of the Signa Group, under whose umbrella Galeria had to file for insolvency for the third time in January.