Galeria files another insolvency petition as 83 stores face uncertain future

Galeria has formally requested the opening of insolvency proceedings at the Düsseldorf district court, aiming to establish a legal structure that can organise its current difficulties and enable a stable, long-term future. The firm announced that its stores will stay open for the time being and that it will provide updates on the situation promptly. The filing raises concerns for the chain’s workforce, which numbers in the thousands, as employees wonder about the security of their jobs and potential entitlement to insolvency benefits.

Over the past several years, Galeria’s revenue has dropped dramatically, and the company has already undergone three prior insolvency processes within the last six years, leading to numerous store closures. Ownership changed in summer 2024 to the US investment firm NRDC and a partner of entrepreneur Bernd Beetz, and the headquarters moved from Essen to Düsseldorf. Recent disputes with landlords over rent payments and a review of 33 stores further highlight the chain’s precarious position.