Department store chain Galeria has named 33 locations where it plans to negotiate lower rents and smaller spaces with landlords.
If the talks fail, these stores face closure. The list includes branches in cities such as Freiburg, Munich, Berlin and Cologne.
The selection of locations was based on criteria including rent burden, profitability and strategic relevance. Some negotiations are already underway while others are just starting.
Chief executive Tilo Hellenbock stressed that each site would be examined individually and without predetermined outcomes. Suitable conditions from landlords, municipalities and the company itself are required.
The Handelsblatt had already reported in June on branches internally labeled “Potenzialfiliale” that could continue only if landlords made concessions.
