Berlin Senate wants to support KaDeWe

Berlin's Governing Mayor Kai Wegner wants to find a solution for the luxury department store KaDeWe.

"The Berlin Senate will work to ensure that a solution can be found for Berlin's most famous department store and that as many jobs as possible are saved," Wegner (CDU) said in a statement on Monday. The KaDeWe Group with its three luxury department stores KaDeWe in Berlin, Oberpollinger in Munich and Alsterhaus in Hamburg had filed for bankruptcy in self-administration on Monday. However, the stores will continue to operate, the company announced.

Opportunity for further development of department store locations

"KaDeWe's insolvency filing shows the difficult situation all department store locations have found themselves in following the bankruptcy of Signa Holding," said Wegner. The insolvency of the retail company The KaDeWe Group GmbH comes just a few weeks after the Signa network of companies owned by Austrian investor René Benko got into difficulties. Signa holds a stake in the KaDeWe Group. Wegner also sees the bankruptcy as an opportunity to further develop the department store locations.