Karstadt rescued from insolvency

Published: 3-Sep-2010
Finance

Max Azria and Nicolas Berggruen buy German store chain


The German department store chain Karstadt has been rescued from insolvency after a court approved a takeover bid led by private investor Nicolas Berggruen and the BCBG Max Azria fashion and apparel group.

The deal was approved at the last minute following disagreements over negotiations to reduce Karstadt property rents and plans to divide the retailer into separate units including premium goods stores.

Karstadt was put up for sale after parent company Arcandor AG announced its bankruptcy last year.

See more

You may also like

Finance

Tropic Skincare founder Susie Ma lands £20 million payout after Lord Alan Sugar buyback

Read more
The payout came amid a bumper year of trading for the skin care business in 2024, as revenues and pre-tax profits both saw significant gains

Trending Articles

  1. L'Oréal, LVMH and Luxottica named preferred buyers of Giorgio Armani empire The late Italian fashion designer has given purchasing priority to L'Oréal, along with LVMH, owned by the world’s richest man, Arnault Bernard, and eyewear brand Luxottica
  2. You need to be a subscriber to read this article.
    Click here to find out more.
    Marionnaud pulls out of Poland The retailer is looking to complete the process in Q1 of 2014
  3. You need to be a subscriber to read this article.
    Click here to find out more.
    From Estée Lauder to Chanel: The beauty industry’s biggest job cuts of 2025 Mass beauty brand owners and luxury firms alike have made layoffs this year amid falling sales and tough economic challenges. Are more to come?
  4. Face The Future grows luxury hair portfolio with Luxurious Look acquisition The online beauty retailer’s acquisition of the luxury hair care retailer comes as Face The Future enters a new growth phase
  5. Klarna launches new shopping app allowing users 'buy now, pay later' via any online retailer The app has been rolled out to UK-based consumers and means users can split the cost even if the store has not officially partnered with the Swedish fintech

Upcoming event

13th Annual Beauty Trends & Innovations Conference

24 September 2025 | London, UK See all

You may also like

Finance

Tropic Skincare founder Susie Ma lands £20 million payout after Lord Alan Sugar buyback

The payout came amid a bumper year of trading for the skin care business in 2024, as revenues and pre-tax profits both saw significant gains
Finance

Natura & Co inks deal to sell Avon business in Central America

Brazilian beauty conglomerate Natura & Co has agreed to offload its Avon business in Guatemala, Nicaragua, Panama, Honduras, El Salvador, and the Dominican Republic to Grupo PDC
Finance

Kolmar Korea launches full operation of 2nd US factory, establishing K-beauty’s ‘tariff safe zone’ in America

New 17,805㎡ facility completed in Pennsylvania with an annual production capacity of 300 million units
You need to be a subscriber to read this article.
Click here to find out more.
Colour Cosmetics

Career advice: How I became Brand General Manager at NARS UK

In partnership with CEW UK, Rachel Leon-Wardrop reveals how she became Brand General Manager at the Shiseido-owned make-up giant, and the skills and knowledge needed to manage the role successfully
Finance

Unilever appoints Srinivas Phatak as CFO and board member

Following 26 years at the company and more than six months as acting Chief Financial Officer, the board of directors has appointed Phatak permanently, in addition to a spot on the board
Finance

L'Oréal, LVMH and Luxottica named preferred buyers of Giorgio Armani empire

The late Italian fashion designer has given purchasing priority to L'Oréal, along with LVMH, owned by the world’s richest man, Arnault Bernard, and eyewear brand Luxottica
Hair Care

Face The Future grows luxury hair portfolio with Luxurious Look acquisition

The online beauty retailer’s acquisition of the luxury hair care retailer comes as Face The Future enters a new growth phase
Subscribe now