KaDeWe-stores remain
At the ailing KaDeWe Group around the namesake Berlin luxury department store, all stores are to remain. The future owner has informed us that the lease negotiations for Alsterhaus and Oberpollinger have been successfully concluded, the KaDeWe Group management wrote to its employees in a letter.
This is another milestone for the company. No comment was initially forthcoming from the KaDeWe Group. The group is currently being taken over by the Thai Central Group.
However, the future operator has no use for around 100 employees, according to the letter. This affected 70 administrative staff. They had already been informed about benefits from the interest compensation and social plan. "As a strategic investor, the new owner of the new KaDeWe GmbH can help us achieve long-term goals and consolidate our position in the luxury retail segment", the management wrote, looking towards the Central Group.
The KaDeWe Group with its three luxury department stores was previously part of the Signa Group of investor Rene Benko from Tirol, which had slipped into insolvency. The Charlottenburg District Court in Berlin had granted the insolvency application of the KaDeWe Group in January. The business will transfer to the Central Group on August 1. The KaDeWe property in Berlin also belongs to the Central Group.
Despite the successful lease negotiations for Alsterhaus and Oberpollinger, the future operator of KaDeWe Group has announced the need to let go of approximately 100 employees. This affects 70 administrative staff, who have been notified about potential benefits from the interest compensation and social plan.
During their daily routines at KaDeWe-Department Stores, some employees might find themselves running through changes to adapt to the new ownership by the Thai Central Group.
