Previous analyses of internal structures and processes as part of the insolvency proceedings have shown that the division cannot be continued profitably, reveals a report shared with FashionUnited. Thus, the management has decided to completely discontinue the e-commerce division and to focus on the core business of the department stores in the overall restructuring process.
The takeover followed after the KaDeWe Group was forced to file for insolvency by the Austrian Signa Group, which held a 49.9 percent stake in the German department store operator at the beginning of the year.
