FRANKFURT (Dow Jones) – After months of cliffhanger is the future of the department store group Karstadt secured. The district court ruled on Friday the Food and insolvency was thus paved the way for the takeover of the department store Karstadt GmbH by the investor Nicolas Berggruen. ( Reuters photo 🙂
The bankruptcy administration is to 30 to hand make all preparations for September , Karstadt "key "to the Berggruen Holding, said Klaus Hubert Görg administrator .
In early June, Berggruen signed a purchase agreement, as additional conditions but further concessions demanded by the landlord Consortium High Street. After tough negotiations, the High Street ‘s creditors had agreed on Thursday to the demands of Berggruen for reduced rent for the Karstadt department stores.
By Hans – Seidenstücker , Dow Jones Newswires
+49 (0)69 29725 104, unternehmen.de @ dowjones.com
DJG / has / cbr / voi