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The plan of Karstadt to take over Galeria Kaufhof comes up against criticism. Thousands could lose their jobs, the inner cities become less attractive.

Trade: City Confederation warns of merger of Kaufhof and Karstadt

The plan of Karstadt to take over Galeria Kaufhof comes up against criticism. Thousands could lose their jobs, the inner cities become less attractive.

Trade: City Confederation warns of merger of Kaufhof and Karstadt

DerDeutsche City and Community Association sees a possible merger VonKaufhof and Karstadt critical. Norbert Palmer, urban development expert of Municipal association, said world on Sunday, a merger seieine enormous danger. "This threatens to break a big chunk out of mosaic demeanor image of picture," said Palmer.

The Karstadt owner RenéBenko had made an estimated three billion euros to Canadian Kaufhof parent company HBC at beginning of November EinÜbernahmeangebot. In a stock exchange announcement, HBC spoke of a non-binding offer whose financing was not substantiated.

DieÜbernahme of Kaufhof by Karstadt would put final point in DerKonsolidierung of German Department of Goods-house landscape. Where once Karstadt, Kaufhof, Hertie and hoarding fought for customer favor, only one supplier remained. He might have better chances to stand up against competitive Internet, against modern shopping malls and chains such as H M UndPrimark. "It's best thing weakening Kaufhäusernoch can do," said trade expert Gerrit Heinemann from Lower Rhine University.

Duplicate sites could drop

The prospect of employees and inner cities is a possible combination of more problematic. The professional trade union DHV, which has two of three trade union representatives in Kaufhof supervisory board, rejects a takeover. "From our point of view, loss of thousands of jobs is speaking against a merger", said DHV managing director Alexander Henf of economic week, responsible for Kaufhof.

In event of a merger, Jörg Funder, professor at Institute International Trade Management in worms, is threatened with every second of scarcely 180Häuser of Kaufhof and Karstadtvom. Joachim Stumpf from trade consultancy BBE assumes that about one in three of currently still around 180 German department stores Früheroder later in current form before dating.

If Kaufhof and Karstadtzusammengelegt were to be, a corporate headquarters and VerbundenenArbeitsplätze would be superfluous. And also at department stores it could be Schließungengeben – especially if in a city Karstadt-UndKaufhof branches are within sight of each or. Finding Neueattraktive users for real estate is difficult to impossible, says urban planning expert Norbert Porz. "And it's no use, WennBilligläden to move in."

Kaufhof suffers from sales declines

Takeover rumors have been going on for a while. Among or things, Benko Signa-Holding has been strong in previous years for a German department company. About two years ago, Signa was lost in bidding race for billion-dollar Kaufhof Erwerbaber against Canadian trading group. But HBC, like losses and declining revenues of DeutscheTochter Kaufhof, has been in crisis for a long time, and lastly re were discussions about a restructuring agreement for employees.

Recently, Canadians – just before important Christmas business – had separated from CEO Jerry Storch. In addition, German daughter Vorgut got a new boss a week. The former Metro manager Roland Wald SollGaleria Kaufhof will lead future. First shareholders have asked Deshalbbereits to seriously examine Signa offer. According to DemBekanntwerden, price of HBC shares soared by nine per cent, and this demand could be reprinted.

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