The owner families behind the Breuninger Group want to divest both the retail business and the associated real estate, reports the German “WirtschaftsWoche”. Reportedly, the potential investors interested in the assets for sale also include the Thai Central Group, as well as Amazon.
In the past years, the group has also proven to remain highly resilient, despite numerous insolvencies in the sector, and has been among the few successful businesses. Last year, the group reportedly achieved a 7% increase in turnover, amounting to around 1.5 billion euros, while employing 6,500 people.
Established in 1881, Breuninger operates 13 department stores in Germany, including in Stuttgart, Munich and Düsseldorf.
