Gordon Brothers Provides GALERIA up to €160M in Financing
35 Articles
35 Articles
The long-term store chain has gained some air with a large loan. But many problems remain. Management and owners also hope for landlords and municipalities.
A new million-dollar loan gives Galeria room for manoeuvre, but new cuts are imminent. Trade experts and trade union representatives are skeptical as to whether the warehouse chain is back on track.
Galeria gets 160 million euros emergency loan from Gordon Brothers. Sounds like salvation? Isn't it? Half of it flows into old debts, 30 branches shake, 12,000 jobs hang by the silk thread.
The crisis-ridden Galeria department store chain receives fresh money after weeks of unrest. However, the associated recovery plan could have painful consequences for some of the employees.
The financially deficient warehouse chain Galeria receives a new loan of up to 160 million euros.
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