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Germany’s Biggest Department Store Files for Insolvency, Victim of COVID-19 Collapse

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Galeria Karstadt Kaufhof, Germany’s biggest department store retailer, filed for administrative insolvency, the equivalent of bankruptcy proceedings in the U.S. The filing on Wednesday follows the bankruptcy petition of Laura Ashley in the U.K. last month, both victims of the catastrophic coronavirus pandemic. Galeria’s stores, where consumers can shop brands including Adidas, Calvin Klein Jeans,…

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