German chain Galeria files for insolvency again, 12,000 jobs at risk
Company says the filing aims to create a legal framework for stabilization; operations at 83 outlets continue for now.
German department-store chain Galeria on 2 October 2026 filed for insolvency for the fourth time in six years, putting roughly 12,000 employees' jobs in jeopardy. The company said its shops' day-to-day operations at 83 outlets will continue for now while the process proceeds.
The filing, the chain explained, is intended to create a legal framework that would allow managers to stabilise the business and seek a sustainable future; it remains unclear whether the insolvency proceeding will force closures of some stores.
Background and previous restructurings
Galeria previously entered insolvency procedures in 2020, 2022 and 2024; those earlier processes led to the closure of numerous sales locations. In past negotiations creditors accepted write-downs of claims worth billions of euros to help the group find a way out of its crisis.
Company executives say the new filing aims to buy time and provide legal protection while they attempt another restructuring—but they caution that outcomes are uncertain and that shop closures and job losses cannot yet be ruled out.
The development marks a fresh setback for one of Germany’s best-known department-store brands as it seeks to adapt to continued financial pressures and changing retail patterns across Europe.
Photo: wikipedia/Raimond Spekking
