Overview
- Talks focus on leases that expire midterm at eight sites: Munich (Rotkreuzplatz); Berlin (Kurfürstendamm, Hermannplatz); Cologne (Hohe Straße, Breite Straße); Mannheim; Braunschweig; and Aschaffenburg.
- Galeria says discussions with landlords have begun to secure economically viable, more flexible rent models, but it has set no timetable for decisions.
- If agreements fail, management plans to open negotiations on an Interessenausgleich and a Sozialplan for affected employees.
- At Munich’s Rotkreuzplatz, property owner OFB is pursuing a mixed‑use redevelopment that would partially rebuild the site, a plan now under municipal review.
- The chain runs 83 stores with about 12,000 employees after repeated insolvencies and a 2024 sale to NRDC and an investor linked to Bernd Beetz, while union Verdi criticizes the owners and urges new investment.