Germany's last remaining major department store chain filed for insolvency protection on Tuesday, its third filing in less than four years, after its owner ran into difficulties.
Galeria Karstadt Kaufhof, which currently runs 92 stores and employs more than 15,000 people, said it filed for insolvency at a court in Essen, German news agency dpa reported. The company is seeking a new owner and talks with potential investors are already underway.
