Last major German department store Galeria Karstadt Kaufhof closes part of its stores

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Last major German department store Galeria Karstadt Kaufhof closes part of its stores

Germany's last major department store, the ailing Galeria Karstadt Kaufhof, is closing 16 of the 92 stores. 1,400 out of 12,800 employees are also laid off. Earlier it was announced that 900 out of 1800 people will lose their jobs at headquarters. The head office in Essen will close and be located in the building of a branch in Düsseldorf. The department store is in financial trouble. According to the curator, when designating the branches to cl…