July 24, 2026, 5:55 am | Read time: 3 minutes
Galeria is once again facing potential store closures. The department store group is reviewing 33 locations in Germany, according to its own statements. Whether the stores remain open depends on ongoing negotiations with landlords. If no agreement is reached on rental terms and space configurations, the affected stores could close. CEO Tilo Hellenbock stated, “We will consider each location individually and with an open outcome.”
These Locations Are Under Review
The review affects stores in numerous federal states. These include Freiburg (Europaplatz), Heilbronn, Mannheim, Offenburg, and Singen in Baden-Württemberg. In Bavaria, Aschaffenburg, Bayreuth, Memmingen, Munich at Rotkreuzplatz, and Würzburg are on the list.
Several stores in Berlin are also being reviewed: Alexanderplatz, Hermannplatz, Kurfürstendamm, and Spandau. Additionally, Potsdam, Hamburg-Eimsbüttel, Bad Homburg, Limburg an der Lahn, Wismar, Braunschweig, and Oldenburg are included.
Other affected locations are in North Rhine-Westphalia, including Euskirchen, Kleve, Cologne (Breite Straße, Hohe Straße, and Nippes), Mülheim in the Rhein-Ruhr-Zentrum, and Münster on Salzstraße. Also on the list are Bad Kreuznach, Koblenz, Mainz, Speyer, and Magdeburg.
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Negotiations Aim to Prevent Closures
According to the company, new rental agreements are now to be negotiated. At the same time, Galeria is discussing possible space adjustments with landlords. If no agreement is reached, the company sees the future of the respective store as endangered.
For the selection of locations, Galeria cites the amount of rent and the economic development of the stores as criteria. At the same time, the company is also holding discussions about improvements at the remaining 50 stores. Additionally, the group is considering relocations to other properties and possible new openings.
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Loan of Millions Is Tied to Conditions
Galeria recently secured a new credit line of up to 160 million euros. The financing comes from the U.S. investment firm Gordon Brothers. However, the implementation of a restructuring plan is a prerequisite. This plan explicitly includes further store closures. It was already known in June that around 30 of the then 83 department stores were considered particularly at risk.
With the new capital, Galeria aims to repay a loan from minority shareholder Bain Capital, among other things. Additionally, outstanding rent payments are to be settled. Several landlords had previously stated that rents were partially or not paid at all. Galeria cited fluctuating payment ability and confirmed having asked landlords for deferrals.
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Third Bankruptcy Within Four Years
The group had to file for bankruptcy at the beginning of 2024 for the third time in four years. One of the triggers was the collapse of the Signa Group.
In the summer of 2024, Galeria already closed nine stores. Currently, the company still employs around 12,000 people, according to its own statements. For many of them, the further development of the affected locations remains uncertain for the time being.