Kaufhof. Richard Baker and HBC search for financial success

Will Richard Baker, interim C.E.O. of the Hudson Bay Co. (HBC), dispose of Galeria Kaufhof department store business in Germany after only two years? “This is possible”, said an industry expert. “Last week, HBC received an unsolicited offer of about US$3.5 billion for Galeria Kaufhof department stores. The potential bidder is the Austrian investment firm Signa Holding (headed by René Benko), which already controls main rival Karstadt as Germany’s n°2 department store chain. It is unclear if the