Year after year, the Galeria Kaufhof department store chain files for bankruptcy: this has already happened four times in the last six years. Several stores have already had to close, and a merger with Karstadt also took place. Despite all this, the situation is not improving, and nationwide closures are once again looming. In Munich, too, one of the last four locations—the Galeria Kaufhof on Rotkreuzplatz—is set to close in a few months.
Galeria Kaufhof Insolvent: Consequences for Munich
As recently as June of this year, Galeria Kaufhof had received a bailout loan of 160 million euros. By all accounts, this did little to help, because now the company is once again on the brink of bankruptcy. For the fourth time, it filed for insolvency in early October; the company is no longer solvent. The result: More locations will have to close. In Munich, there are currently only four of the original nine stores left, and very soon there will be no more than three.
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The possibility that the Galeria Kaufhof on Rotkreuzplatz might close has been in the air for some time. What was previously just speculation is now official. The current lease expires at the end of January 2027; after that, the location will be history. The stores at Marienplatz, Münchner Freiheit, and the OEZ will remain open. The Galeria at Marienplatz is the top-performing store in all of Germany, but its lease also expires at the end of 2027, which is why its future remains uncertain. What will happen to the other two locations is also still up in the air at this point.
Galeria Kaufhof at Rotkreuzplatz: Here Are the Plans
While no concrete statement can yet be made about the future of the other three locations, the fate of the Galeria Kaufhof at Rotkreuzplatz is already sealed. The current building is to be demolished and rebuilt . The new building will house a hotel, restaurants, apartments, and office space. The hotel is set to span three floors and offer space for 240 rooms.
A Müller store could move into the ground floor, and the planned atrium is intended for restaurants. The new building is scheduled to be completed by 2030, at which point the current plans will be implemented. For now, operations at the other Galeria Kaufhof locations will continue as usual. There are still a total of 83 locations throughout Germany, employing around 12,000 people. What the future holds for them will become clear in the coming months.
