Galeria new tenant: Fashion chain files for insolvency
The fashion chain Aachener, which only moved into six abandoned Galeria locations this year, has run into financial difficulties. "We have filed for insolvency," said a spokeswoman for TEH Textilhandel GmbH, the company behind Aachener, in Dortmund on Friday. The local court there has already appointed a provisional insolvency administrator. Several media outlets had previously reported on this.
The company has seven locations, to which six former Galeria stores were to be added - in Frankfurt, Saarbrücken, Cottbus, Coburg, Nuremberg and Leverkusen. These have already been rented after Galeria Kaufhof moved out, but have not yet opened - only a sports outlet opened on Frankfurt's Zeil as a temporary solution. With the insolvency application, it is now questionable whether the former Galeria stores will reopen their doors.
The retail trade sector is significantly impacted with the financial struggles of Aachener, as their planned expansion into six Galeria locations is now uncertain due to their insolvency filing. Despite being the latest tenant in Galeria, the closure of Aachener's operations could potentially affect the retail trade in these locations.
Source: www.dpa.com
