Karstadt: Five more stores are to be closed by mid-2016 – SPIEGEL ONLINE

Karstadt plans seem to close more stores to rehabilitate the ailing department store group. The report “Frankfurter Allgemeine Zeitung” and “Handelsblatt” in agreement.

The Supervisory Board of Karstadt Warenhaus GmbH should therefore decide in the coming year on Tuesday the end of five department stores. Staff at the five sites were informed on Monday evening.

Specifically it go according to plans by CEO Stephan Fanderl to the branches in Bottrop and Dessau , both of which are to be closed March 31, 2016; Then there are the stores in Recklinghausen , Neumünster and Moenchengladbach Rheydt that are to close down 30 June 2016.

The branch network of Karstadt would therefore shrink from 83 to 76 houses. 477 employees were affected by Fanderls reduction plans, writes the newspaper “Handelsblatt”.

The five affected sites is according to data from industry sources to stores, where sales decline for years. In addition, whether in the cities both population growth and the purchasing power declined.

Karstadt could not be reached for comment at first.