The largest judicial settlement since after the war. What accelerated negotiations was the announcement of the judicial settlement (Insolvenz) at Karstadt, a true institution for German retail trade. The crisis as well as management mistakes and positioning, led the department stores chain (100) to the edge of cessation of payment. Likewise for Quelle, one of the German heavyweights of mail order selling. As soon as Essen’s commercial court officially announces the judicial settlement, the 30,000 employees of the two companies will enjoy the “Insolvenzgeld” – the equivalent of the entire gross earnings paid for three months by the Federal Employment Agency. Afterwards, some of the employees will probably be laid off and be entitled to a more or less general social plan. Others should keep working in the stores taken over. In Germany, the sad fate of Karstadt, which has been part of the German urban landscape and everyday life for decades, stroke people’s minds.
yle=”text-align: justify;”>The largest judicial settlement since after the war. What accelerated negotiations was the announcement of the judicial settlement (Insolvenz) at Karstadt, a true institution for German retail trade. The crisis as well as management mistakes and positioning, led the department stores chain (100) to the edge of cessation of payment. Likewise for Quelle, one of the German heavyweights of mail order selling. As soon as Essen’s commercial court officially announces the ju
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