Learn more

Germany’s beleaguered Galeria department store group can try to start afresh in August, as a district court announced on Monday that the group’s insolvency proceedings have been lifted. Beginning Thursday, the company, formerly known as Galeria Karstadt Kaufhof, will be renamed Galeria, the court said. Nine branches will be closed in August, leaving the company with 83 locations nationwide, the court said. The US investment company NRDC and a holding company owned by entrepreneur Bernd Beetz will become the new owners of the group as of Thursday, the company said. The retailer has around 12,00…

cuu