Karstadt to shut down five more stores

karstadt_4Karstadt, the beleaguered department store chain and a leading sporting goods retailer in Germany, reportedly intends to close five more of its loss-making stores by March 31 and June 30, 2016, respectively. Textilwirtschaft says that the 500 employees affected were informed yesterday. Currently, the chain operates 83 department stores, but two are to be closed soon. It was said that there are altogether 28 underperforming stores that are subject to potential disposal.

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