KarstadtQuelle news and archive

KarstadtQuelle returns to solvency

KarstadtQuelle has announced an end to the risk of insolvency with a â‚¬4.5 billion refinancing deal. The struggling German retail chain used its core property portfolio to back the deal, which was structured through a joint venture with Goldman Sachs. According to the Financial Times the deal has, however, been criticized by analysts who...

Fashion

KarstadtQuelle turns Q3 profit

German retailer KarstadtQuelle has turned a profit in the third quarter after losing â‚¬503.7 million (Â£341.7 million) in the same quarter last year. The company made an operating profit this quarter of â‚¬14.15 million. Sales in July, August and September, however, dropped almost 12 percent to â‚¬2.7 billion, compared with the same quarter...

Fashion

KarstadtQuelle quits venture

The German retailer KarstadtQuelle AG reported yesterday that it was to sell its 82% stake in a three year old joint venture with the Starbucks Coffee International to the US coffeehouse chain. The troubled retailer did not give any further details of the transaction, which is part of its restructuring plan. The plan includes selling a number of...