Overview
- The company filed for the opening of insolvency proceedings at the Amtsgericht Düsseldorf on Friday, Oct. 2, 2026, and said the 83 remaining stores will keep trading for now.
- Galeria secured a up-to-€160 million credit line from Gordon Brothers in June tied to a three-year restructuring plan, but that funding did not stop the renewed insolvency filing.
- About 12,000 employees were informed of the filing and now face uncertainty over wage protection because prior court plan supervision may block new insolvency-pay claims.
- Management flagged 33 stores for review over the summer and has been negotiating with landlords after missed rent payments were reported in April, leaving which locations will close still undecided.
- Industry experts and unions say only a much smaller, reconfigured chain backed by a committed strategic investor could offer long-term survival, otherwise an orderly wind-down of assets is likely.