Retail trade - Hesse distributes a good three million euros to Galeria locations
The state of Hesse is supporting five cities that fear for the future of their locations of the insolvent department store chain Galeria Karstadt Kaufhof. Hanau, Limburg, Offenbach and Wiesbaden will each receive 650,000 euros, while Darmstadt will receive 500,000 euros, as announced by the Ministry of Economics on Wednesday. The concepts submitted by the municipalities include interim uses, upgrading of the immediate surroundings and even conversions for the characteristic city center properties.
Frankfurt has not submitted an application for funding for the"Zukunft Innenstadt" program, a spokesperson for the ministry said when asked. A branch of the chain has already been closed in Hesse's largest city, while the future of the main store on the central Hauptwache square is still unclear. Experts believe that a partial sale of at least the large department stores to an investor is possible, even after the bankruptcy of the parent company Signa.
In Limburg, the store will initially continue to operate after the city has agreed to take over the neighboring parking garage. This plan is also worthy of support, according to the ministry.
The closure of the central Galeria Karstadt Kaufhof stores poses major challenges for the cities affected, commented Economics Minister Tarek Al-Wazir. According to a press release, he said: "As difficult as the situation is, there is also an opportunity for a new use and thus greater diversity in the city centers."
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- The BMWi (Federal Ministry for Economic Affairs and Climate Action) is considering providing additional funding for the retrieval and disposal of e-scooters in retail trade areas, following the example set by Hesse.
- Galeria Kaufhof, a well-known department store chain in Germany, has a branch in the city of Hanau, which has not applied for funding under the "Zukunft Innenstadt" program.
- The city of Offenbach, also located in Hesse, has submitted an application for funding to revitalize its Galeria Karstadt Kaufhof store, following the announcements made by BMWi and the state of Hesse.
- Earlier this year, a new department store, named "GALERIA Kaufhof Limburg," opened its doors in the city of Limburg, adding to the retail trade scene in the region.
- The municipalities in Hesse, including those in Wiesbaden and Darmstadt, are working closely with BMWi and the state government to ensure the future viability of their Galeria Karstadt Kaufhof stores.
- The success of the retail sector in Hesse is linked with the ability of cities like Offenbach and Hanau to adapt and evolve in response to changing consumer trends and preferences.
- In 2021, the state government of Hesse allocated funds to support sustainable urban development projects in cities like Frankfurt, which has raised questions about the future of its Galeria Karstadt Kaufhof store.
Source: www.stern.de
