Creditors’ meeting approves rescue plan for Galeria Karstadt Kaufhof – company

Essen – Germany’s last major department store chain, Galeria Karstadt Kaufhof (GKK), run by the Austrian investor René Benko and his Signa holding company, gets another chance. The creditors’ meeting of the department store group approved on Monday the insolvency plan developed by the restructuring expert Arndt Geiwitz and the company’s management to save the traditional company, as the company reported.